The adjustment in both taxes, which account for 20% of the national collection of the General Tax Directorate (DGI), will be implemented, in principle, with the aim of that “holds in time”.
“The tax relief that the president is going to present in the coming days is based on this behavior and responsible conduct that we have all had as a government, within the guidelines of the new fiscal institutionality,” Arbeleche reported.
Although it is still unknown to what extent the benefit for the pocket of Uruguayans will reduce the tax pressure from the two taxes mentioned, “the message from the government is that this step can be taken at this time,” in the words of the minister.
What are the taxable minimums and what are the IRPF and IASS ranges?
Since the last update of the Benefits and Contributions Base (BCP) last month, the taxable minimum of the personal income tax became of 39,620 pesos per monthwhile that of IASSwhich is of annual liquidation, of 543,460 pesos per year –45,280 pesos per month–.
Meanwhile, the stripes of the personal income tax and their respective rates were as follows:
- Of 39,621 pesos to 56,600 pesos: rate of 10%
- Of 56,601 pesos to 84,900 pesos: rate of fifteen%.
- Of 84,901 pesos to 169,800 pesos: rate of 24%
- Of 169,801 pesos to 283,000 pesos: rate of 25%
- Of 283,001 pesos to 424,500 pesos: rate of 27%
- Of 424,501 pesos to 650,900 pesos: rate of 31%
- Of 650,901 onwards: rate of 36%.
by the side of IASSthe tax levied on retirements was left with these scales:
- Of 543,460 pesos to 1,018,800 pesos (84,900 pesos per month): interest rate 10%.
- Of 1,018,801 pesos to 3,396,000 pesos (283,000 pesos per month): interest rate 24%.
- Of 3,396,001 pesos onwards: rate of 30%
Source: Ambito
