Employees Decree 1188/93 Leave without effect the publication of the levy set out in Title II, Chapter VI, Article 70 Alicuit nets set out in Article 70, subparagraph (a) of the Internal Tax Law (T. or 1979 and its modifications and modifications) on light vessels for recreation and sports and their engines outboard

Bs. As. 11/6/93

VISTO: the provisions of article 86 of the Internal Revenue Act (a text ordered in 1979 and its amendments) and proposed by the MINISTERY OF ECONOMY AND ARTWS AND PUBLIC SERVICES, and

CONSIDERING:

That the law referred to the executive power to leave without effect in a temporary way when it so advises the economic situation, the taxes provided for in the aforementioned law

That the reduction of the tax pressure specific to the construction sector of light vessels for recreation and sports and their outboard motors, in addition to facilitating the placement in the domestic market will lead to a change in the declining trend of production, improving productivity, employment and competitiveness.

That is why it is considered appropriate to exercise the above-mentioned faculty by temporarily suspending the application of the levy established in Title II, Chapter VI, Section 70, subparagraph (a), of the Internal Revenue Act (text ordered in 1979 and its modifications) with respect to the products of the sector involved, light vessels for sport and recreation and their motors outboard. All this according to the technical report produced by the MINISTERY OF ECONOMY AND ARTWORKS AND PUBLIC SERVICES.

That the transitional suspension of the tax on such property shall be governed until 31 May 1995

That in order to ensure that the proposed rule does not result in the decrease in tax resources, the suspension of the tax shall be, at a minimum, compensated by a higher basic collection for taxes on the Attached Value and the Gains.

That, for the purposes of framing and ensuring proper functioning of the scheme set forth, have been concluded, as a prerequisite, in accordance with the main representatives of the sector covered by the measure.

That in the legal service of the MINISTERY OF ECONOMY AND ARTWORKS AND SERVICES PUBLICS considers this measure to be legally viable.

That, therefore, it is appropriate to make use of the powers conferred on the NATIONAL EXECUTIVE POWER by article 86 of the Internal Revenues Act (the 1979 text and its amendments).

Therefore,

THE PRESIDENT OF THE ARGENTINA NATION

RIGHT:

Article 1 The application of the levy established in Title II, Chapter VI, Section 70, subparagraph (a), of the Internal Revenue Act (text ordered in 1979 and its modifications) on the light vessels for recreation and sports and their outboard motors covered by annex I to the aforementioned article, headings NCCA 84.06; 85.01; 89.01 and 89.05 Art. 2o The provisions of the previous article shall govern for the imponible facts arising from the day after the date of publication of the present decree in the Official Gazette and shall govern until 31 May 1995. (Note Infoleg: by art. 6th Decree No. 404/1996 B.O. 15/04/1996 is extended from 1 June 1996 and until 31 May 1997 the validity of this Decree. Previous extension: Decree No. 740/1995 B.O. 01/06/1995) Art. 3o - Tell the HONORABLE CONGRESS OF NATION. Art. 4o Communicate, report to the NATIONAL DIRECTION OF OFICIAL REGISTRATION and archvese. MENEN. - Sunday F. Cavallo.