While details are being finalized for the discussion of the omnibus law to begin on campus, the Government made the decision to send Congress he project of the Income Tax. As he knew Scope, the non-taxable minimum will reach gross salaries of more than $1,350,000.
President Javier Milei and the Minister of Economy, Luis Caputo, They intend to send the project to Parliament this Tuesday so that it can begin the corresponding legislative process.
Currently, after the sanction of the tax reform in the hands of Congress last year, the bulk of the private workers and of the retired and pensioners remained exempt from payment of profits. Furthermore, it was stipulated that only the wages Those who have incomes similar to the 15 minimum, vital and mobile salaries (SMVM) are covered by the withholding.
However, with the modifications proposed by the new project, they will begin to pay Profits workers who receive gross salaries of more than $1,350,000.
Furthermore, the Government will seek to apply quarterly updates of the non-taxable minimumtaking into account the inflation values shown by the Consumer Price Index (IPC). In addition, will authorize the delegation of powers to the Executive Branch to update the scale amounts.
A few days after taking office at the Ministry of Economy, Caputo He made it clear that the Government’s intention was going to be to send a new project to Congress and presented it as a claim from the provinces due to the co-participation regime.
“We will have to see if it is reestablished. It is being negotiated. That has to go to Parliament. The expectation they have many provinces is that that is back“he said in mid-December.
According to the spending cut scheme released by the Ministry of Economy in the first days of the current government, the objective of Javier Milei’s administration is to reverse 0.4% of the deficit through the Profit reform.
Profits: who is affected by the current tax
If we take into account the value of SMVM in January 2024, which according to the latest updates is located in $156,000 grossthe amount by which salaries begin to pay profits is currently around $2,340,000.
The regime that has been in force since January 1 of this year, after the sanction of the reform last September, covers a universe of about 80,000 workers. It should be remembered that the project sanctioned at that timeat the request of Minister Sergio Massa, ordered the elimination of collection of fourth category profits which covers the income that is the result of personal work.
In this category more than 800,000 workers were included that, for the amount of their income, they had to pay the tax and that after the sanction they were exempt from it.
With the sending of the new project, the government will shrink the pyramid of workers reached by the tax, with the objective of recovering income to reduce the fiscal deficit by 0.4% and rebuild the State coffers. Likewise, with the new modifications it aims to respond to a request from a group of governors who complained to the Executive for the reform because it is a co-participating tax.
Source: Ambito
