The president of the Fiscal Council, Alonso Segura, raised an atibored letter from WARNINGS to the office of the head of the Ministry of Economy and Finance (MEF), José Salardi, after both held a meeting on February 17.
In the document he accessed The Republic, The public body that watches over the health of Public Finance He expressed concern about recent measures or ads dictated from the MEF that would put the fulfillment of the fiscal goals of short and medium term at risk, in addition to eroding the ability to Fiscal collection.
Thus, he warned the Executive Branch to persist in the progressive elimination of Tax benefits For the agricultural sector, not yielding to pressures from reverse and even expand them. Such is the case of the new Agrarian Law, read Chlimper 2.0 law, which gives tax benefits mainly to agro -exportersand whose fiscal cost amounts to S/20,000 million in 10 years of measure, according to the proposal of the Congress.
He also asks the Minister José Salardi to reconsider your recent decision not to reduce the rate of restitution of tariff rights, call yourself drawbacka customs mechanism that returns to exporters part of the tariffs paid by the importation of raw materials used in local production. According to specialists consulted by the Republic, drawback is a blind, indiscriminate and unjustified subsidy for these times. A few days ago, the Government formalized extending the validity of the rate of 3% of said mechanism and eliminating the decrees that sought its reduction and subsequent elimination.
Fiscal Council warns MEF about harmful measures for the treasury. Photo: The Republic.
Special Economic Zone at 0% Tax Rate
On the other hand, the Fiscal Council recommended that the MEF Hold your observations to the proposal of a new legal framework for special economic zones (ZEES), given that this proposal, which is currently under discussion in Congress, does not have an adequate geographical delimitation to enjoy benefits.
In addition, it raises the creation of multiple Zees and includes generous tax benefits and contrary to global agreements to combat the erosion of tax revenues such as an initial rate of the 0%income. Regarding this point, the head of the MEF has remained in favor of starting with zero collection after meeting with business guilds.
“All this will result in potentially permanent collection losses, distortions and tax inequities and severe problems for Tax Administration. There is no robust evidence at an international level on positive impacts of this type of initiatives in variables such as sustained economic growth, investment or employment, among other economic indicators, more of its harmful effects on tax collection, “he said in the Charter.
These last two measures can entail tax expenses exceeding S/2.5 billion annually. In addition, tax benefits can encourage new requests for similar treatments in other sectors, without due technical analysis of their fiscal cost.
Fiscal Council asks for projections
A few days ago, Economy Minister José Salardi projected the growth of the Peruvian economy for this year, which according to specialists, sins of excess confidence. The Fiscal Council itself accounts for it.
“The recent announcement of an estimate of economic growth of 4% real for this year, a considerably higher than the market consensus (which is slightly below 3%), particularly in a context of global uncertainty and general elections in 2026, “says the document.
The technical agency recommended that the MEF prudence When the macroeconomic projections are reviewed, since it could increase the pressures towards greater public spending, either through supplementary credits or increases in the loan of the next year.
Source: Larepublica
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