With the new joint measure of the Government and the Federal Administration of Public Revenues (AFIP) and the officialization in the Official Gazette with the signatures of President Alberto Fernández and Chief of Staff Agustín Rossi, around 250,000 citizens in a dependency relationship will leave to pay the Income Tax since the month of May. In addition, there will be some specific salary concepts that will be exempt from tax.
From the month of May, people who have a gross salary of less than $506,230 inclusive, will no longer be tied to having to pay the Income Tax. However, when the gross remuneration for a monthly period exceeds said amount but is less than or equal to $583,851, withholding agents shall compute a special deduction of the tax burden.
In addition, there are new exemptions provided by the AFIP and they will not have to pay the Income Tax bonuses for productivity, cash failures, per diems and overtime. It is worth noting that workers must not carry out any type of procedure for said situations and employers must re-settlement and repay said amounts in accordance with the provisions of General Resolution No. 5314/2023, with respect to fiscal year 2023 inclusive.
What will happen to the Christmas bonus and Income Tax
According to the new floor of the Income Taxwhich is equivalent to $415,108 of net salary including the 18% discount for retirement and health coverage and which began to apply in May, it is estimated that the Christmas bonus, which employees in a relationship of dependency both in the public sector and in the public sector receive, could be compromised. as the private one in the month of June, as well as retirees and pensioners.
Basically, if the average monthly gross salary is greater than $506,230, the bonus will be fully affected by the fee regardless of the changes. Otherwise, if the average salary does not exceed $506,230, then said payment will be exempt up to the sum of $253,115, which is half the minimum amount to have to make the contribution.
