The workers who were affected by the Income Tax Prior to the last modification, they must wait until November to receive the benefit of the increase in the non-taxable minimum, so the salaries they receive these days will still be withholding.
Under this instrumentation, communicated on September 13, the Minister of Economy, Sergio Massasought to advance three months what will be applied annually in 2024: the floor of 15 vital and mobile minimum wages as a new non-taxable minimum, currently at $1,980,000. However, there was speculation that as of October 1 the changes would be applied retroactively to September, and the 800,000 workers who will stop paying Earnings would already see relief in their accounts based on last month’s salary. .
On the other hand, those who benefit from this change If they will notice the refund withheld on account of the second installment of the complementary annual salaryalong with the salaries and wages accrued for the past month.
Alejandra Sarnia member of BDO Argentina, explains it this way: “If during the months that have elapsed in the second half of 2023, the average value of the remuneration has not exceeded the sum equivalent to 15 minimum wages, The corresponding tax of the twelfth part taxed from July to August is returned”.
Said refund must be expressly stated in the salary receipt, under the legend “Return of Decree No. 473/23” and independently of the withholding that may correspond in the month in which it is settled.
Under the recent implementation, Only the salaries of 88,000 taxpayers will be covered by this tax.
The calculation of the tax will be carried out in a manner biannual, that is, for the purposes of determining the tax, the value of the SMVM in force on January 1 of that year must be considered, updated on July 1. For the BDO Argentina specialist, the update should be in accordance with the SMVM increases, which occur more than twice a year.
On the other hand, according to the new Law, the workers covered by this tax will enter the schedular regime within the Income tax called “Higher earnings”.
Fernanda Laiúnfrom the Laiún, Fernández Sabella & Smudt studio, specified who will make up the new scheme: those coming from national, provincial, municipal public positions and from the Autonomous City of Buenos Aires. Also retirements, pensions, withdrawals or subsidies of any kind, as long as they have their origin in personal work and to the extent that they have been subject to payment of the tax. The subjects reached will be guided by the concept of a non-taxable minimum for the sum equivalent to one hundred and eighty minimum annual salaries. They may not deduct any other concept authorized by Law.
At the same time, He detailed who will be left out of the cedular regime: the salaries of magistrates, officials and employees of the national and provincial Judiciary and the national Public Ministry, when their appointment had occurred from 2017 onwards -inclusive-; positions of Secretary of State onwards and equivalents; deputies and senators; directors, trustees, members of supervisory boards of public limited companies and equivalent positions of administrators; members of boards of directors of other societies, associations, foundations and cooperatives, directors of cooperative societies; and monthly and lifetime allocations recognized to presidents and vice presidents of the Nation.
Those who do not enter the higher income regime They will pay income tax using the normal general and personal deductions, which implies considering the gross salary deducting the mandatory contributions, the non-taxable minimum, the special deduction, the corresponding amounts for children, spouses and medical fees, among others.