“Argentina is one of the few countries in Latin America where education cannot be deducted in Earnings,” Russo explained, detailing that now “the Non-Taxable Minimum for the 2022 period is 252,564.84 pesos, that is, it can be deducted up to 40 percent, which would be a maximum of 101,025.84 pesos per year.
In the 2023 Budget Law, in addition, the National Executive Branch was empowered to increase during fiscal year 2023 the amount of the Complementary Annual Salary (SAC) not subject to withholding. And the amount of the Additional Special Deduction that neutralizes or moderates the tax.
“Depending on the inflationary context and the increase in salaries arranged through parity – assures the president of the Professional Council -, the Executive Power plans to continue adjusting this “Earnings floor” so that a sector of workers in a dependency relationship and retirees do not remain reached by the tax,” Russo said. And she added: “As of November, this floor is 330,000 pesos and although the measure seeks to benefit the sector, distortions will continue to be generated in those who exceed 431,000 pesos, because they are affected by the withholdings of the general scale”.
On the other hand, he warned that “benefits for self-employed workers, who mainly represent entrepreneurs and independent professionals, were not included.”
Source: Ambito
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