Mercado Libre's founder, Marcos Galperin, spoke out this Tuesday following the Government's resolution by Axel Kicillof establishing the application of the Gross Income Tax on transactions carried out through virtual wallets. The measure, which has already been adopted by more than 20 jurisdictions in the country, will impact platforms such as Mercado Pago, linked to Mercado Libre, Ualá, and Naranja X.
Galperin reacted by sharing on X a message from the Nation's Undersecretary of Press, Javier Lanari. "The tax is not on virtual wallets. The tax is on people. An incentive for informality and a brake on progress and the digitalization of the economy. More harmful is not possible...", Lanari posted, a message that the entrepreneur shared on his account.
Meanwhile, Pierpaolo Barbieri, creator of Ualá, also criticized the initiative. "Today and always, Gross Income Tax (IIBB) is the worst tax in the country. Imposing taxes on transfers and invoicing instead of profit encourages the use of cash and tax evasion", he wrote on the same social network.
The controversy surrounding Gross Income Tax had already caused a previous clash between Santa Fe's governor, Maximiliano Pullaro, and Marcos Galperin, Mercado Libre's founder, who publicly questioned the application of this type of tax.
In that province, the Gross Income Tax rate for Payment Service Providers (PSP), which covers virtual wallets and various financial providers, increased this year from 5% to 9%.
Mercado Libre warned that the increase directly affects consumers and SMEs. Pullaro replied by defending the tax increase and stated: "In Santa Fe we are against those who sell off the books and engage in financial arbitrage. There is no tax increase here".
