ARGENTINA: House Committee Vote In Favor Of Tax Reform With A Few Changes

(RTTNews) - The Budget Committee of the Argentinean House of Representatives approved a favorable opinion on the tax reform sponsored by the national government. After negotiations with the Justicialist bloc, the ruling party accepted a series of modifications to the original draft.

The ruling party decided to incorporate at the last minute a VAT reduction for poultry, pork and rabbit meat to the same level of beef.

The higher tax on beer, which had been a contentious issue earlier, will rise from 8% currently to 17%, while taxes on tobacco would have a 25 pesos per pack floor - from 22 pesos currently.

The changes are expected to be discussed by the House's floor between December 19 and 21.