The Senate Chamber approved this Thursday the reform on the income tax proposed by the Executive power and, therefore, the elimination of the fourth category of workers. The project, sanctioned with 38 votes in favor and 27 against, reaches a universe composed of 80,000 workers.
The initiative received support from officialdom and of Federal Unit blockwhich responds to provincialist spaces, and the rejection of Together for Changewhich, as in the debate in the lower house, considered it to be an “electoralist” measure.
“No worker will pay profits again”the minister stated on the social network #Salary is no earningbut it is payment for the work they do every day.
Profits: who will pay the tax
The regulations approved by a majority of senators this Thursday eliminate the fourth category of workers and raise the floor of the income tax to a figure of 15 minimum, vital and mobile salarieswhich until September was $1,770,000.
However, while the measure is carried out by decree, it was learned that The non-taxable minimum will be close to $2 million for this year due to a new update of the Minimum, Vital and Mobile Wage (SMVM), which will amount to $132,000: in October, the tax will reach those who receive a salary of $1,980,000.
As the Federal Public Revenue Administration (AFIP) had previously anticipated in an Official Gazette, “the National Executive Branch increased to a sum equivalent to FIFTEEN (15) MINIMUM, VITAL AND MOBILE WAGES (SMVM) -according to the amount that is in force on October 1, 2023-, the amount of the remuneration and/or monthly gross income.
The determination of the tax is carried out according to the following mechanism: it is considered, at the beginning of the fiscal period, the value of the Minimum, Vital and Mobile Wage (SMVM) in force on January 1 of that year, which will be updated on July 1 of each fiscal year, considering the value of the SMVM in force on that new date.
Source: Ambito
