Prohibit banks from charging for cash deposits

[Inkriql]

In the package of measures launched by the National Government on Wednesday, there is a group of regulations that aims to improve the financial conditions of small and medium enterprises in the province. Some collect claims from companies, such as card commissions or collection for cash deposits made by banks.

For businesses, the Government managed to shorten the cards from 19 to 10 business days the term in which they pay for the sales made by the locals attached to the system. The change will be effective from a resolution that will be published by the Central Bank of the Argentine Republic (BCRA).

Deposit collection
On the other hand, banks are not going to charge more than the commission of between 1% and 2% to SMEs for receiving cash deposits. This situation was not regulated by the monetary entity that will now fix the regulation and prohibit the commission.

As for the new payment plan that will be launched by the Federal Administration of Public Revenues (AFIP) for overdue debts, the rate will be lower and there will be more term than the previous plans, which can also be refinanced as long as 20% of the Debt.

The taxes that may be included in the plan are Value Added Tax (VAT), Earnings and Personal Assets, due on January 31, including withholdings and tax payments. In addition, the terms will be extended from 48 to 60 installments (the first installment will only be paid on September 16) and the rate will be 2.5% per month, lower than the previous plans and well below the market rates , According to the government.

Finally, exporting SMEs that manage to increase shipments abroad will not pay withholdings. The measure is only applicable for exporters who invoice less than US $ 50 million per year.

Keys
Less payment time. From now on, the payment term for the cards to pay to the merchants for their sales will be 10 days, instead of the 19 days that they were previously in charge.

Without commission Another benefit that was implemented was the elimination of commissions between 1% and 2% that banks charge to SMEs for cash deposits.

Payment plan. AFIP will launch a payment plan for overdue debts with a lower rate and with a longer term than the current debt regularization plans.

Up to 60 installments The terms for the cancellation of debts in VAT, Profits and Personal Assets will be extended from 48 to 60 installments.