TAX REFORM INITIATIVE FOR 2020

On September 8, 2019, the Executive Branch submitted to Congress the Economic Package for Fiscal Year 2020 (the “Economic Package”). Such package includes, among others, the Federal Revenue Law initiative, the initiative that reforms several tax provisions (“Tax Miscellaneous”) and the Federal Expenditure Budget. The modifications included in the Economic Package are not final, since they will be subject to discussion, modification and approval by the Chamber of Representatives and the Senate, for its subsequent approval by the Federal Branch and its publication in the Federal Official Gazette.

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