The AFIP established the conditions to exempt the Christmas bonus from paying the Income Taxfollowing the Government’s decision to increase the non-taxable minimum of that tax.
through the General Resolution 5358/2023published in the Official bulletin, The agency indicated that in order to determine the origin of the exemption from the complementary annual salary corresponding to the fiscal period 2023, “it must be taken into account that the amount of remuneration and/or monthly gross income does not exceed the sum of $506,230, inclusive”.
This measure had been ordered last week, through Decree No. 267, through which the Government increased the amounts of monthly remuneration and/or gross income to be considered to apply the exemption from the Complementary Annual Salary.
Now, the AFIP issued a complementary measure to that official decision, and explained that, for the purpose of determining the origin and calculation of the special deduction of that tax.
Thus, withholding agents will have to meet a series of requirements, such as generating an additional settlement with respect to remunerations and/or salaries accrued since May 1, 2023 that would have been settled for said period prior to the publication of the new General Resolution.
That is to “determine the differences that, by application of the provisions of this Resolution, would have been generated in favor of the liable parties, which will be reimbursed in the first remuneration and/or have to be paid from the validity of this general resolution”, stated the official text.
At the same time, it clarified that “in the event that on the date of entry into force of this document, the beneficiary subject had been laid off, without another employer acting as withholding agent, and the final liquidation had been carried out By withholding the excess tax, the employer must again carry out the liquidation corresponding to the termination of employment”.
The General Resolution also established the exemption from mandatory guard duty for health personnel and overtime.
The AFIP justified this measure by stating that Decree 267 “had the purpose of partially anticipating the annual update of the amounts contemplated in the last paragraph of article 30 of the Income Tax Law, until its complete application, in order to avoid that the tax burden neutralizes the benefits derived from the salary policy”.
Source: Ambito
