Banks Applaud Reduction of Tax Burden with Elimination of VAT and Income Tax Retentions

• Association of Banks of Argentina applauded the government’s decision to eliminate withholding taxes on VAT and Income for businesses
• BBVA Bank announced a strong restructuring of its business in Argentina
• Central Bank increased maximum withdrawal amounts at ATMs due to inflation
• Debt of the Treasury continues to increase for banks
• Financial inclusion and sustainability will be part of the agenda for banks and companies in the region
• Banks celebrate the reduction of tax burden with the elimination of withholding taxes on VAT and Income
• The Association highlighted the importance of digital payment methods for reducing costs and increasing transparency in commercial activity
• They emphasized the need for provincial and city administrations to align their measures with those of the national government.

Source: ambito.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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