The Government announced that from this month only the remunerations of the workers over $506,230. The proposed amendment will allow a reduction in the total number of workers who pay income tax. Through the measure, approximately 250,000 employees in a dependency relationship will benefit. But how were the scales and what will happen to the Christmas bonus?
In principle, regarding the scales, will not be changed or updated the amounts of deductions from Income Tax in May.
Earnings 2023: amount of the exempt Christmas bonus
In the event that the average salary and/or monthly gross salary for 2023 will exceed $506,230it is speculated and confirmed then that the bonus will be fully affected for income tax.
If the average salary did not exceed $506,230then the bonus as such will be exempt up to the sum of $253,115 (which is half of $506,230).
The new income tax floor will come into effect from May 2023 and, according to what was explained by the Ministry of Economy, the payment of the supplement It is linked to the variation of the Average Taxable Remuneration of Stable Workers (RIPTE) of 25.29%between October 2022 and February 2023.
These provisions will be applicable to remunerations and/or gross monthly salaries accrued as of May 1, 2023, inclusive, with the exception of the provisions of article 1, which will take effect as provided therein.
AFIP: new exemptions
The extra hours corresponding to the guards worked by the health personnel of public hospitals and private health centers were exempt from the payment of Income Tax from the modification of the law made by Congress that was published today in the Official Gazette.
It is a law with a single article, 27718, which indicates that the following are exempt from the tax: “Remuneration received for mandatory guard duty, whether active or passive, and overtime performed by professionals, technicians, assistants and personal health systems, when the service is provided in public or private health centers throughout the national territory,” the text says.
It states that “the benefit of this section must be indicated in the receipt of assets corresponding to the person who is in charge of payment of the remuneration and/or settlement of the asset, identifying it with the legend ‘Exemption second paragraph of article 27 of the Income Tax Law for workers and health workers.
The norm enters into force as of its publication and has already been promulgated by means of a decree and therefore requires a general resolution of the Federal Administration of Public Revenues (AFIP).
After the Government’s decision that increased the non-taxable minimum of the Income Tax to $506,230 gross, the AFIP modified the tax exemptions on Friday to adjust to this floor.
Through a statement, the entity also added that, during this fiscal year, new exemptions will be added to the payment of the tax that will be applied “retroactively and for the entire fiscal period 2023.”
As remarked from AFIP, the following income should not be computed for the calculation of the Income Tax: Bonuses for productivity; cash failures; Per diems; Extra hours.
Source: Ambito
