While the Government – Minister of Economics Luis Kaputo Dixit – seeks to gain confidence in the power of macroeconomic results to reduce the risk of the country and improve the conditions of financing the country, there are sources of resources that expect the progress of reforms in Congress to contact the market.
Last night, at the IAE summit, Kaputo said that the cornerstone will be labor and tax reform. While they expect the details of these legislative modifications, probably with the new conformation of the Congress, sectors such as life insurers and pension insurers are looking for a place in the world to deploy business and contribute to financial investments through the capital market.
The government intends to add resources to mobilize the economy to the “mattress dollars”, which has not reached, to some extent out of distrust of the development of the change in changes in the future.
During May, there were purchases of dollars of private individuals for about $ 2000 million. USA, but out of this amount only $ 25 million increased deposits in banks. That is, “Canuit” continues to swell, and not to reduce and disseminate consumption and private financing through banks.
The government intends to add resources to mobilize the economy to the “dollars of the mattress”, which did not reach some extent out of distrust of the development of the rate of changes in the future
Lack of incentives
In the insurance sector, they assimilate this behavior with the lack of attractive savings tools for the public. In the case that concerns them, affordable pension tools have, for example, high opportunities for maintaining tickets.
In this sense, they indicate that the life industry, the removal of funds and pensions practically do not benefit from obtaining resources in humans. “For example, contributions to protective funds in the system of mutual guarantees are exempted from 100%profit. But the deduction for the taxpayer who takes life insurance is only $ 195,000, a little more than $ 162 per year, ”they warn in this sector. Companies that hire as benefits for their employees also cannot disgrace them.
In the world there are various tax processes for contributions to life or cancellation insurance. For example, in Turkic up to 25% per annum with a maximum limit of 10,000 US dollars can be withdrawn from profit; In Spain, up to 1650 US dollars, which are growing $ 2310, if deductions of autonomous communities are added.
In Brazil, income contributions to private pension funds can be reduced with a limitation of 12% gross income. And in the UK it is up to 4,800 US dollars.
“For example, contributions to protective funds in the system of mutual guarantees are exempted from 100%profit. But the deduction for the taxpayer who takes life insurance is only 195,000 US dollars, a little more than $ 162 per year “
The sector says that the mobilization of potential private insurance resources can rise from 1.8% to 5% of GDP in 10 years, which is up to $ 15,000 million. USA with higher investments. This potential economic growth, which will be financed with the mobilization of these resources, and the collection, which will lead to more than compensation for the overall deduction of contributions.
Fiscal cost
Tax collection in 2024 amounted to $ 131.3 billion, 22.7 % of GDP was equivalent. Of this total number of insurers, $ 2.8 billion. The United States corresponds to contributions for labor risks and 0.01 billion dollars. USA in contributions to collective life insurance. In other words, these 2.81 billion dollars. The United States is equal to 2% of the total tax collection and 0.05% of GDP.
In 2024, the financial cost of relief for contributions to life and pension funds insurance, assuming that all participants withdraw the most permitted as possible, in the event of a lesson of less than 0.08 billion dollars. USA.
According to the sector scenarios, subtracting the profitability of a life policy of up to $ 50,000 per year and an increase in the liberation limit to $ 1 million will have a financial value of $ 0.4 billion, which is 0.03 % of the collection. The price that financial behavior can transfer.
