“We are avoiding that almost 380,000 Argentine workers, when they work an extra hour or receive a per diem or work a weekend, do not end up losing what they earned with their work with the Income Tax,” he remarked in an act that he led in Santiago del Estero days ago. “To maintain the purchasing power of the workers,” he later maintained through the social network Twitter.
The new decree also orders to increase the special deductions for the salary bracket of $330,000 and up to $431,988 in order to “maintain a better progressivity and avoid jumps in the scales”, they reported from Economy. The list with the special deductions must be published by the Federal Administration of Public Revenues (AFIP) as soon as possible.
According to this, AFIP will establish a lower deduction for the first segments of income that qualify for the payment of the tax.
Secondly, the amount of remuneration and/or gross credit for the purposes of the Christmas bonus exemption was increased from $280,792 to $330,000.
The keys, in addition to the deductions usual as dependent children Y marital statusare in the gross salary and in the average of gross salaries that were received in the year.
For the payment of income tax, the following must be taken into account:
The non-taxable minimum, which from November will be set at $330,000 per month.
The deductions that help wage earners affected by the income tax to settle expenses.
There are three types of deductions provided in the calculation of how much you have to pay:
- the mandatory ones (retirement, social work and PAMI)
- personal (spouse, children, dependants)
- those allowed
The payment of Income Tax, which is usually settled annually, while there is the possibility of making monthly payments on this concept. For employees and people who perform personal work, its payment is the responsibility of your Withholding Agent.
The rise in the income floor from which the Income Tax is paid had been advanced by the Minister of Economy, Sergio Massa. What is the minimum non-taxable income for 2022?
Since last June, employees with monthly gross remuneration (or average monthly gross remuneration) below $280,792 do not pay the tax on Profits.
The new decree moves that floor up to $330,000 from the 1st of november.
Who will be the beneficiaries?
Of the 380,000 people benefited, about 45% live in the Province of Buenos Aires, followed by the City of Buenos Aires (12%), Córdoba (8%), Santa Fe (7%) and Mendoza (3.5 percent). percent), according to government data.
Analyzed by sectors, those that will have the largest number of workers who will be left out of the tax are the manufacturing industry (just over 53,000 employees), transport services (almost 40,000), commerce (31,700), financial intermediation (14,300) and construction ( little more than 8 thousand people).
How will it impact the bonus?
To analyze the impact on Complementary Annual Salary (SAC)or aguinaldo, the tributary Sebastian Dominguez of SDC Tax Advisors released a series of keys.
The SAC can have three treatments:
fully taxed
totally exempt
Part exempt and part taxed
To determine the treatment of the SAC fee for the second semester, first, it must be established whether the average monthly salary and/or gross salary for the period July-December 2022 exceeds or does not exceed the sum of $330,000.
If the average salary and/or gross monthly salary for that period exceeds $330,000, then the SAC is fully taxed by income tax.
On the other hand, if the aforementioned average does not exceed $330,000, then the SAC will be exempt up to $165,000 ($330,000 / 2).
What is considered remuneration or gross monthly salary?
They can be considered as remuneration me have monthly gross to all the amounts that are received monthly, in money or in kind, whatever their denomination, whether or not they have a remunerative nature, for the purpose of determining the contributions and contributions to the Argentine Integrated Social Security System or analogous provincial or municipal regimes.
The concepts must be considered regardless of the treatment they have in the income tax.
That is to say, both taxed and exempt concepts will be considered, as well as those not taxed by income tax.
The only concept that should not be considered to establish remuneration and/or gross monthly salary is the SAC.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
