Senate Finance Committee Passes Tax Modernization Bill
10 enero 2020

On January 7, the Senate Finance Committee passed the tax modernization bill, approving the articles including the indications emerging from the framework of dialogue between the committee members and the Executive, signed on November 8. Only one amendment remained pending which was the one concerning the disposal of property, formally endorsed the following day. Likewise, the report of the bill is expected to arrive at the Senate Chamber on Monday with the debate beginning on Tuesday 14, the idea being to send it to Deputies on Wednesday 15, January at the latest.  

Among other measures, the senators passed Article 3, amending the Sales and Service Tax law and including the idea of taxing digital services. 

The following articles were also adopted: Article 4, modifying taxes on inheritances and donations; Article 6, restricting the use of tax exemptions for homes with certain characteristics; Article 7, incorporating tax and customs courts into the category of special courts, thus obliged to publish rulings on their websites; and Article 13, extending tax benefits to free zones in extreme regions.

The senators also adopted a number of other articles including Article 16, modifying the tax on emissions, Article 20, which envisages partial integration for companies with sales over 75,000 Promotional Units per year, and Article 23, setting up the taxpayers’ ombudsman.