For Mariano Manzi, a candidate for provincial deputy for the FCS-Juntos por el Cambio alliance and president of the assembly of the Civic Coalition-ARI, demanding the payment of taxes on financial speculation hinders development.
This component of his proposal is revealed as the Catamarca Collection Agency increases pressure on the burgeoning cryptocurrency business, whose profits began to pay the Gross Income tax in the province a couple of months ago.
At the end of May, ARCA ordered that the gabela be applied on “the interests, yields, rents and any other sum that is the product of the placement of capital, whatever its denomination and form of payment, including those obtained in the market of cryptocurrencies, other digital currencies or currencies “and that the businesses dedicated to this traffic become retention agents. “Government entities must accompany and promote these processes and set aside a short and closed look on the matter, thinking only of collecting by generating excessive regulations that end up drowning entrepreneurs and innovators; In short, governments and rulers must stop being afraid of genuine development. Progress is the way out, ”Manzi said.
The aspiring legislator has not disseminated opinions on the tax burden borne by productive activities, commerce or services, so the anguish of the virtual financial universe stalked by state greed has to concern him particularly. His proposal is simultaneous to the tensions that operators in this market face with ARCA agents who intend to charge them a rate of between 5 and 7% in terms of gross income. The litigation emerged after an inspection by the collecting body of a cryptocurrency investment fund that operates in the upper capital area.
Manzi does not explain why the financial income should be relieved of the obligations to the treasury that other activities pay without so far no one has thought of exempting them. Nor in what way do these “entrepreneurs and innovators” contribute to the “genuine development” of the province that worries him.
His reflections are of a general order. “The present in the world and also in Catamarca, shows us that technology and innovation in investment matters, new forms of savings, are a reality and an opportunity for development for the province”, he says, and advises the authorities ” understand the new paradigms and put aside prejudices ”.
Perhaps it is more specific if you have to legislate in this regard, as a representative of the long-suffering holders of virtual capital. It would be a novelty: there are no precedents for legislators of specific economic activities. Catamarca producers have not had the fortune of having such emphatic endorsements as the one this man provides for speculation.
Meanwhile, the Central Bank and the National Securities Commission warned about the risks associated with investments in cryptocurrencies. These assets, both institutions warned in May, are not legal tender, have high volatility, can suffer cyberattacks, lack “safeguards”, can lead to fraud due to their lack of transparency and represent a high risk to be used as laundering. of assets.
“It is important that those who decide to operate with crypto assets or invest with products related to them have access to sufficient information to understand and evaluate the risks associated with them,” they indicated in a joint statement.
Manzi is not concerned about this. “Our man in the Legislature, with the Bitcoin Block”, the “traders” are excited.