For the people, The incorporation of the deduction of education expenses in the Income Tax was approved. It will be for up to 40% of the non-taxable minimum. Domínguez estimated that the benefit will be quite limited. In an expense of $100,000 per month, the discount on what the taxpayer pays will be about $2,900.
The maximum amount to be deducted this year is $101,035, which is $8,400 per month. That means that for someone who pays 35%, the annual impact on what they are currently paying is about $35,360 a year.
Meanwhile, for the Truckers union, the Deputies introduced an increase in the deduction of mobility expenses. Until now, that benefit was $90,000 a year and will now be $350,000.
laundering
The Budget project brings novelties with the externalization of undeclared capital. In the case of construction, which until now only allows allocating funds to works, it will also be allowed to use them for the purchase of used homes, both for family use and for rent. “This expansion of destinations is positive since there is not enough supply of new private works for those who want to take advantage of money laundering, as well as because it will help reactivate the real estate market that has been affected by the economic situation for years,” said Domínguez.
If a person externalizes dollars to buy an apartment to live in, as the law is drafted, he could have three other apartments and fit into the norm. He could move in for six months and then sell.
On the other hand, for SME industries, laundering was approved at 5%, 10%, 15% and 20%, depending on the date of entry. The dollars may be used to import supplies and the AFIP will not take into account the taxpayer’s Financial Economic Capacity. The measure was a claim by the General Business Confederation of the Argentine Republic (CGERA) and is consistent with the new regulations of the Central Bank and the Import System of the Argentine Republic (SIPA), which allows advance payments to be made with your own dollars.
The taxes that go up
The deputies approved an increase in internal taxes for certain electronic products from 17 to 19% and from 6.55% to 9.5% for those from Tierra del Fire. “This increase in tax pressure reaches, among others, cell phones, monitors and projectors, all products necessary for the daily work of companies and individuals,” said the tax expert.
For monotributistas there will be an increase in the social work component for categories ranging from D to K. The fees will range from $3,600 to $10,500. The justification for this is to prevent the social works of unions from rejecting monotributistas for the Mandatory Minimum Benefit (PMO).
An Aviation Security Fee is created, which would be about $250 per passenger. Although the Executive Power is allowed to set it, the law indicates that it cannot exceed 0.25% of the basic salary of the hierarchical grade of Principal Officer of the Airport Security Police.
what was left out
The taxation of the salaries of the judges was not approved. It was rejected by the majority of the House. Currently, the new judges and Justice personnel who join pay the Income Tax. The clause sought to retroactively reach the magistrates who were there from before.
In the same way, the ruling party withdrew an article from the bill that gave the government the power to set export withholdings. This was intended to close a dispute with the Liaison Table that has been questioning export rights in court. The official argument is that this power is delegated in the Customs Code, which is a law.
Extraordinary Earnings Advance
The Federal Administration of Public Revenues (AFIP) reported that 91.5% of taxpayers who were required to pay an extraordinary advance payment of Income Tax of 15% complied with the provision. There were 1,181 companies. There were presentations from some firms against the measure but they were rejected by the judges.
Source: Ambito
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