The new reformed document of the Government Bases Law proposes some tax modifications. I know the details of each point.
He Executive power proposed a new Bases Law project which came to light last Tuesday. This document addresses central issues in the management of Javier Milei, such as Income Taxwhich would reach thousands of Argentines.
Among the various fiscal, economic and state reform issues discussed in the new version of the so-called “omnibus law”, the tax scheme is one of the main axes to be debated. With the aim of sustaining the fiscal surplusthe package of fiscal measures that the Executive will send to Congress soon, includes the Reversal of Profits.
The key points of the Government Income Tax project
He income tax It is a tax that is applied to the income obtained by natural persons. With the modifications proposed, Ganancias would reach thousands of families throughout the country, having a significant impact in the pockets of the workers affected by the measure.
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There are certain key points that should be highlighted about the new proposal to reactivate this tax. The axes to take into account are the following:
- Annual inflation update for tax deductions and scales starting in the 2025 fiscal period.
- Elimination of tax exemptions current, such as the differences between overtime and ordinary hours on holidays, productivity bonuses and income from medical guards, among others.
- I would not have retroactive effect. That is, payment will begin as soon as the changes are approved.
- He bonus is left over exempt of the payment of the lien.
Income Tax: what it would look like in 2024
He new tax bill poses important changes. Instead of following the current system that establishes a minimum amount of income to start paying Income Tax, the project proposes taking into consideration other factors that are relevant to people’s economic situation.
Aspects such as family situation and certain major expenses, such as medical or rental expenses, will be taken into account when calculating taxes. This means that people could have special deductions based on your family situation and expenses that have. Likewise, it contemplates the update of deductions and scales from 2025 by Consumer Price Index (CPI) and empowers the Executive Branch to make changes in 2024.
Income Tax: who will pay in 2024
As already mentioned, and as the Government previously announced, the new scheme proposed for the collection of this tax establishes that the collection It will not be retroactive. This means the discounts will be effective from the moment it is published in the Official Gazette. Under this premise, the period from January 1 will not be taken into account.
According to the new scales, an employee single without children Begin to pay Profits from $1,800,000 monthly gross. In the case of employees with spouse and children under 18 years of age at their expense, those who access a gross monthly salary of $2,300,000equivalent to $1,981,278 net.
Source: Ambito
