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Monday, March 27, 2023

The IRPF and IASS reduction project will reach the Senate next week

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The senator for Cabildo Abierto Guido Manini Ríos specified that the idea of ​​the coalition is to approve it quickly.

The senator of Open Town Hall (CA), Guido Manini Riosremarked that the intention of the coalition that makes up the government is that the bill that proposes the reduction of the Personal Income Tax (IRPF) and the Social Security Assistance Tax (IASS) it is approved quickly.

This Thursday the economic team that carries out the rebate project, headed by the Minister of Economy, lily arbelechewill appear before the Finance Commission of the Senate.

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After this, the intention of the coalition, according to the senator of the Cabildo Abierto that he maintained with the Monte Carlo radio, is to approve it and then send it to the full Senate next week and, after being approved in that instance, send it to the Chamber of Deputies.

Manini Ríos insisted that the approval should be quick so that it enters into force as soon as possible and can benefit the sectors affected by the bill. “The sooner the law is approved and promulgated, the sooner it will enter into force and the sooner the benefits will be produced to those sectors reached by this proposal of the Executive Branch,” said the senator.

When would the law go into effect if approved?

In a press conference, the senator of the National PartyJorge Gandini, specified that the application is immediate once the bill sent to Parliament is approved.

“Once they are approved, it begins to take effect,” explained the senator who added that “the following month (from the approval of the law) retirees and workers they will see in their pocket, especially those who have less income, the result immediately”. Gandini remarked that he expects this reduction to be approved in March so that he can take effect in April.

It is necessary to take into account that the personal income tax and the IASS are liquidated annually and that at the end of the year the return of what was contributed in the months prior to the change will be carried out, which would ideally be January, February and March. “They are going to settle at the end of the year, and it will be returned to them at the end of the year because these first months of the year they pay for a higher amount, and since it is an annual tax, it is discounted at the end of the year and it will be returned to them. ”, detailed the senator.

Source: Ambito

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