2023-05-07 15:35:51
The Ministry of Economy announced today that starting this month, only the earnings of workers over $506,230 will pay the Income Tax. In that way, it will prevent the rise in wages achieved in joint ventures from being kept by the State through tribute.
“Within the framework of initiatives to gTo generate greater tax relief promoted by the Minister of Economy, Sergio Massa, starting in May, only earnings that exceed 506,230 thousand pesos will pay income tax”, highlighted the Palace of Finance.
In a statement, Economía stated that “There will be no withholding of the tax when the gross remuneration does not exceed $506,230, inclusive.”
“Likewise, in those months in which the gross remuneration for the month exceeds $506,230 and is less than or equal to $583,851, withholding agents will compute a special increased deduction,” pointed to the text.
The statement states that “the proposed modification will allow a reduction in the total number of workers who pay income tax” and that “through the measure, approximately 250,000 employees in a dependency relationship will benefit.”
“These provisions will be applicable to remunerations and/or gross monthly salaries accrued as of May 1, 2023, inclusive, with the exception of the provisions of article 1, which will take effect as provided therein.”, indicates the note.
Since January 2023, the monthly gross remunerations that do not exceed $404,062, inclusive, did not pay income tax.
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