Earnings Relief: the non-taxable minimum will be raised

Earnings Relief: the non-taxable minimum will be raised

Minister Guzmán confirmed changes in earnings and answered Massa / Web

The Minister of Economy, Martín Guzmán, confirmed that the Income Tax floor for dependent workers will be updated based on the evolution of inflation. And, by the way, he threw a Chicana at Sergio Massa, who had sent him a letter to claim that measure. “It is obvious that it will be updated,” the official fired.

“It is obvious that the floor from which workers in a dependency relationship pay (the tax on) Profits will be updated based on the evolution of inflation,” said Guzmán.

“It is what the law reasonably establishes so that the benefit to the workers is not lost with inflation, and it is what the Government will execute,” the minister added. However, he did not give dates regarding when the measure will begin to operate.

The official idea is to raise the non-taxable minimum to prevent more employees from being covered by the tribute resulting from joint negotiations that are closing around improvements of 60 percent that accompany inflation.

The president of the Chamber of Deputies, Sergio Massa, had raised the need for the national government to increase the floor from which workers in a dependency relationship pay Income Tax to $ 265,000 from next month, instead of January 2023.

Last year, official sources recalled, this increase was brought forward to September and this year the same will be done for inflation, since “it is a faculty of the Executive Power, which will surely come out by decree.”

“It will be done when the inflation projection is updated,” the sources indicated, despite the fact that the non-taxable minimum is updated according to the average taxable remuneration of stable workers (Ripte).

Massa considered that this decision, which is in the hands of the Executive Power by delegated power of the National Congress, had to be advanced by six months, so that the salary increases of recent times are not absorbed by the treasury. And he wanted the minimum to go from $225,937 to $265,000 gross compensation. Minister Guzmán retorted him with a Chicana: “It’s obvious.”

In the middle of the official internship in the Front of All where one of the favorite targets of Kirchnerism is the Minister of Economy, Massa joins the side of critics of the official’s management. Even more so after the terms that he agreed with the International Monetary Fund.

After Guzmán’s confirmation was known, the Renovating Front came out to answer.

Sources from that space pointed out that the initial alert is explained by “so many obvious things that are delayed” such as the implementation of the increase in the non-taxable minimum for Income Tax, between April and September 2021; and the delay in the implementation of the new monotax scales in 2020, they recalled.

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