While details are being finalized for the discussion of the omnibus law in Congress and the last votes are sought to obtain its approval, the Government will send a project through which it seeks to restore the Income Tax.
As Ámbito learned, the The non-taxable minimum will reach gross salaries of more than $1,350,000. In turn, official sources clarified that the aforementioned amount will be adjusted quarterly through the Consumer Price Index (CPI) published by INDEC.
The project also contemplates that the Executive Branch will retain the powers to modify the scales. In this way, around 800,000 people will pay the tax again. In addition, it goes back to September 2023, with updated amounts.
The changes onthe fourth category of income tax They had not previously been included in the so-called “Bases Law” because it was part of a negotiation with the governors. Some of them even proposed sharing the tax on the check, an initiative that lost strength as the discussions continued.
The restitution of the tax on salaries was requested by the governors since the beginning of the Milei era. Sergio Massa, in his management as Minister of Economy, took millionaire funds from the provinces, which after arduous discussions they seek to recover.
According to reports, the Executive is finishing fine-tuning the details, but the document will be entered into the Chamber of Deputies in the next few hours.
Milei’s opinion on Income Tax
Presidential spokesperson Manuel Adorni recently referred at a press conference to Javier Milei’s change of position regarding the Income Tax. “In his previous capacity as a deputy he actually voted for the reduction or modification of Profits, he never failed to say and clarify that he had to be accompanied by a spending reduction and that had to be executed at that time by the national State. “He acted in his capacity as a legislator in line with his thoughts,” he noted.
The latest tax reform promoted byr Sergio Massa, had allowed about 800,000 employees with higher incomes would no longer be covered by the tax and implied a loss of $1 billion for the National State and the same for the provinces, since it is a co-participatory tax.
There are also changes in Personal Assets
The Government presented before the legislators a new version of the omnibus law and with regard to Personal Assets there were three strong modifications: The non-taxable minimum and the house-residential property were updated, there were changes in the ratesand finally, a benefit was validated for compliant taxpayers.
Source: Ambito
