2023-09-14 15:46:34
The Income Tax Reform Bill is ready to receive a favorable opinion next Monday in the Budget Committee of the Chamber of Deputies, as announced by deputy Carlos Heller of the Frente de Todos. Today’s meeting, in which officials will present details of the project, was considered informative. The ruling party plans to give it half a sanction in a session scheduled for Tuesday of next week, while the Together for Change interblock has already announced its opposition to the initiative.
The project, presented by the Minister of Economy and presidential candidate Sergio Massa, iIntroduces a new tax on income that exceeds the equivalent of 15 minimum wagesvital and mobile phones per month. This tax will be progressive, with rates ranging between 27% and 35% for excess income, and will be updated twice a year following the value of the Minimum, Vital and Mobile Wage (SMVM).
According to the foundations of the text, Only around 88,000 taxpayers, representing less than 1% of total salaries, retirements and pensions, will be subject to the tax. This means that only the highest incomes of workers in a dependency relationship and privileged retirements and pensions will be taxed.
The main objective of the project is that the tax falls only on the highest incomes in relation to dependency and other income mentioned, promoting greater tax equity in Argentina.
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