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Which group of workers would the new floor reach?

Which group of workers would the new floor reach?

The profit tax in Argentina is an issue of conflict and one of the main points of negotiation between the ruling party, the dialogue opposition and the provincial governors.

In the reversal of the law that seeks to modify the political and economic structures of the country, chapter V was announced, which refers to a set of measures included in a fiscal package.

income tax

The reversal of the law seeks to modify the political and economic structures of the country.

Which workers will pay income tax in 2024

The text returns to the scheme that was in effect until September 2023, as had already been presented at the beginning of the year, although with an “update” for inflation from the previous proposal for the so-called floor.

Thus, an employee single without children Begin to pay Profits from $1,800,000 monthly gross and a married with children, from $2,300,000 raw.

Some deductions are eliminated, but create a special deduction so that he bonus is exempt of the payment of the lien. The project establishes a annual inflation update for tax deductions and scales starting of the fiscal period 2025.

For this year, empowers the Power Executive to define whether to update or not those parameters once the law is approved by Congress.

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The Income Tax, one of the main negotiation points in the omnibus law.

The Income Tax, one of the main negotiation points in the omnibus law.

Depositphotos

Income Tax: what exemptions are eliminated

On the other hand, exemptions are eliminated for the Annual Complementary Salary, bonus, for the difference in the value of overtime and hours worked on holidays, non-working days and during weekends.

The law passed by Congress raised the non-taxable minimum floor for workers and retirees who receive 15 minimum vital and mobile salaries (SMVM).

Source: Ambito

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