Autonomous City of Buenos Aires legislators will review a plan to impose a one-time tax to contribute to the health emergency COVID-19. There will be an income tax of 1 percent on banks, casino companies, internet sites and financial firms.
Earlier this week, the Frente de Todos political party unveiled the project but the ruling party does not believe the bill would get the requisite approvals.
Representatives of the Radical Civic Union have told La Política Online: “It’s not that easy, especially since the health sector was one that we prioritized. We believe that the independent sectors are the ones that suffered the most because of the crisis, they need our help.”
The lawmakers who proposed the proposal, Santiago Roberto, Matías Berrotaveña y Manuel Socías, said Argentina’s capital’s health sector has earned the lowest budget in the last 13 years.
“The health system needs to be endowed with resources, both physical and human. The latter need to receive good salaries and need to be protected,” they said.
The fund generated from this revenue will be used in Buenos Aires to finance health activities and social programmes. As set by the legislation, the 1 percent tax will apply only to businesses that generated more than $450k in gross revenue in 2019.
The City voted, back in March 17, to limit entry to casinos and racecourses to 200 people at a time. Although the initial decision was aimed at preventing the virus from spreading without slowing down economic development, facilities were forced to shut their doors, as President Alberto Fernández ordered a compulsory lockdown.