According to a survey conducted by the consulting firm KPMG Argentina, companies' outlook in Argentina for the year 2025 shows a significant change compared to previous years. Fernando Quiroga Lafargue, partner of Corporate Taxes at the firm, pointed out that contrary to previous expectations of increased fiscal pressure, this year the majority of respondents foresee that pressure will remain the same or even decrease. Furthermore, a considerable percentage of respondents indicate that they will increase investment in the country, showing an improvement in expectations.
Regarding fiscal pressure and investments, the survey reveals that 66.32% of respondents believe that fiscal pressure will remain the same in 2025, while 18.95% think it will be lower. Consequently, 68.42% stated that they will maintain their investments. Additionally, a high percentage of respondents consider both the amnesty regime and the moratorium successful in terms of revenue collection.
In relation to tax pressure by district, the Province of Buenos Aires is indicated as the most burdensome, followed by Misiones and the City of Buenos Aires. Although most opinions indicate that operations have not been restricted due to the tax burden in some provinces, 33% expressed having done so. Regarding established fiscal initiatives, the majority of respondents express confidence in the success of RIGI, the amnesty, and the moratorium.
Overall, the perception of CFOs and tax specialists consulted is that the current fiscal framework does not favor investment in the country. They highlight Gross Income as the tax that has the most impact on products and services, followed by Profits. They also note that provinces do not offer tax incentives to promote investments. In this context, the tax reform proposed by the government generates expectations and debates in the business sector.
In conclusion, the KPMG Argentina survey reflects a change in companies' perspectives for the year 2025, showing greater optimism regarding fiscal pressure, investments, and fiscal initiatives, despite existing concerns regarding the current tax framework in the country.
