The initiative advances July 1 next the adjustment for maximum billing amounts, with the application of the rate of 29.12%. In this way, as specified, it will not include an increase in the monthly installments to be paid, but only an update of the maximum billing limits is sought so that the monotributistas do not have to jump to a larger scale, or be left out of the Simplified Regime .
The changes will have a positive impact on the economic situation of a total of 4,498,419 monotax payers of the entire country, which represents 39% of AMBA and 61% of the provinces.
Tax relief for monotributistas and self-employed: what are the changes
The project aims to update the amounts of the maximum billing allowed to be in each of the categories of the scale. It will also renew the income ceilings that allow access to the simplified tax system.
The same initiative also provides for news for the self-employed, who pay Earnings from lower income, compared to employees and retirees. If it is approved this Wednesday in Deputies, the project will be turned over to the Senate to become law.
Changes in the monotax: from when will the changes of the new tax relief law be applied
All income cap amounts will increase by 29.12%. This percentage arises from the annual update mechanism, by which the figures are readjusted each January, taking as a reference the percentage of the increase obtained in the previous year by retirements and pensions from the ANSES general pension system.
If the tax relief law is approved, these changes will apply as of July 1, 2022. Until the 20th of that month, monotributistas must comply with the second recategorization procedure that occurs each year.
How will the scales of the monotax be?
If the new table is approved, they will need to look at their billing for the last twelve months. In this way, the caps by category will be as follows:
- Category A: $601,959.49
- Category B: $894,804.65
- Category C: $1,252,726.50
- Category D: $1,724,532.59
- Category E: $2,277,684.56
- Category F: $2,847,105.70
- Category G: $3,416,526.83
- Category H: $4,229,985.60
With regard to activities for the sale of personal property, there are three other categories, which will have the following maximum billings admitted:
- Category I: $4,734,330.03
- Category J: $5,425,770.00
- Category K: 6,019,594.89
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What will happen to the income caps for monotributistas?
The largest annual turnover allowed in the case of trade will pass, as planned, from $4,662,015.87 to $6,019,594.89 and that corresponding to those who provide services, from $3,276,011.15 to $4,229,985.60.
In case of exceeding these maximum limits, the taxpayer automatically passes to the next scale. The increase in permitted income with respect to the values in force in January 2021 was 32.05% (trade monotributists) and 39.18% (services).
Changes for the self-employed: how the modifications will impact the new law
The bill includes a modification to the Income Tax law, by which the basic amount of annual billing would be increased from which the self-employed are taxed. Therefore, the figure for 2022 would go from $757,694.52 to $1,010,259.36.
The objective is to reduce the gap between the deductions applied for employees and those taken into account for the self-employed. These changes will impact the income of some 200,000 taxpayers. The fiscal impact of the measure would be $7.31 billion.
How will the situation of the self-employed
For example, a self-employed person with income of $4.5 million, under the current law, must pay Earnings for $1,112,487. With the new tax relief law, that payment would be $1,024,089.
Source: Ambito
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