In a climate of discontent over the loss in value of wages, the Government announced a 25% increase in the tax floor starting in May
By iProfessional
29/04/2023 – 19,41hs
The new floor for the Income Tax that reaches workers in a dependency relationship will be $500,000 gross per month from May 1. The measure occurs in the midst of an inflationary escalation and the claim of the unions for the loss of the value of wages. It’s about the first modification of 2023 on the floor since the lien is taxed.
The previous floor for the tax had been established on January 1 of this year and had been set at $404,000 gross per month. The new amount set by the Ministry of Economy raises the income tax floor by 25%.
Until what amounts are not paid Earnings in 2023
The amount of gross remuneration to not pay income tax will go from $404,062 to $506,230 as of May 1.
For salaries of more than $506,230, withholding agents will compute an increased special deduction, in accordance with the regulations issued by the Federal Administration of Public Revenues (AFIP) in the months that the gross assets exceed $506,230 and are less than or equal to $583,851.
Earnings 2023: what will be the amount of the exempt bonus
If the average salary and/or monthly gross income for 2023 exceeds $506,230, then the SAC will be fully taxed by Income Tax.
The amount of gross remuneration to not pay income tax will go from $404,062 to $506,230
On the other hand, if the average of the salaries does not exceed $506,230, then the SAC will be exempt up to the amount of $253,115 (half of $506,230).
The new income tax floor will be in force from May 2023 and, as explained by the Ministry of Economy, it is linked to the variation of the Average Taxable Remuneration of Stable Workers (RIPTE) of 25.29%, between October 2022 and February 2023 (latest data published).
Regarding the scales, the amounts of the deductions of the Income Tax in May are not changed or updated.
