Ingresos Brutos definition

Ingresos Brutos. The Company is also subject to the provincial “Ingresos Brutos” tax (calculated as a fixed percentage on gross revenues), which was increased from 2% to 5% effective January 1st, 2010. The Company made the first payments of such tax following the rate of 2% and presenting a letter arguing that this tax increase is inconsistent with the “stable tax environment” clause under the concession agreement in the city of Neuquén and San ▇▇▇▇▇▇. The tax authorities had requested the payment of the balance (difference between 2% and 5%) and the Company is responding to that letter without consenting the increase of the tax especially not to compromise the Buyers with such increase. The Company did not account for a possible liability in the future. Negotiation with the Union: There are 441 employees working in the casino facilities that are unionized under SECNER (“Sindicato de Empleados de Casino de Río Negro y Neuquén”). In April 2008, SECNER became federally recognized, enabling the union to negotiate a collective bargaining agreement with the Company. Casino Magic is in the process of negotiating an agreement similar to those in place at other casinos operating in Argentina. The Company is meeting weekly with Union and has not reached an agreement.
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Examples of Ingresos Brutos in a sentence

  • Transactional Taxes do not include any Tax that that is statutorily imposed on Company that arises from Company’s consumption of any product or services, including Argentine Ingresos Brutos, Brazilian PIS/COFINs social contribution taxes and ISS municipal service taxes, and IOF Financial Tax on Exchange Transactions, or other taxes of a similar nature.

  • Ingresos Brutos de Juego : significa Apuestas menos Premios menos Bonos .

Related to Ingresos Brutos

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