Argentina’s Economy Minister Sergio Massa announced on July, 18 a series of tax breaks and credit lines for small and medium-sized businesses to boost investment, hire workers and increase exports.

Sergio Massa announced that from August 1 until December 31, 2024, SMEs will be able to take 30 percent of the tax payment on bank debits and credits “as payment on account of (up to) 15 percent of the contributions and contributions” that companies must pay for their employees to social works and the pension system. This measure reaches more than 240,000 SMEs and one million people” beneficiaries of the contributions. On tax matters, the government decided to ease what is known as the ‘advance income tax’ for which they had to pay 25 percent and (later) the rest of the installments. Now the first installment was reduced to 10 percent (of the tax set for the previous year) and then (they will pay) another nine similar installments.”