As of the beginning of the year 2023, the floor for the Income Tax for workers it will go from the current 330 thousand pesos to 404 thousand pesos in the case of employees in a dependency relationship. This figure arises after the dissemination of the annual accumulated Average Taxable Remuneration of Stable Workers (RIPTE).
This accumulated value is used annually to advance the floor of the Income Tax and this year there was an increase of 78.83% between the month of October 2021 and the same month, but in 2022. That will be the value of the increase in the floor at tax that workers receive.
Despite being 78.83% above the floor of the Income Tax October of last year, it only grew 22.42% compared to the current floor of 330 thousand pesos, which will apply for the months of November and December of the current year.
Thus, in order not to have to pay the tax, the remuneration received by an employee in a dependency relationship must not exceed 404,062 pesos per month. In the case of the Christmas bonus, it must not exceed half of the minimum income tax floor, that is, 202,031 pesos.
With the update of the taxable floor of the Income Tax the amounts of deductions as spouse or child were also updated as follows: Non-taxable profit: $451,683.19; Family charges with maximum net income: 451,683.19; Spouse or partner: $421,088.24; Children up to 18 years old: $212,356.37; Child or stepson disabled for work: $424,712.74.
In the case of employees or self-employed, it would be as follows: Special deduction art 82: Employees: $2,168,079.31; Self-employed: $1,580,891.17; Art. 53 (Third category): $1,580,891.17; New professions or new entrepreneurs: $1,806,732.76; Education expenses: $180,673.28; Funeral expenses: $996.23; Mortgage loan interest: $20,000.00 and Private House Personnel: $451,683.19.
November inflation
The official inflation data for the month of November is not yet known, because the National Institute of Statistics and Censuses (INDEC) will publish it on Thursday, December 15. However, the projections of private consultants are known.
In the penultimate month of the year, general inflation would be at a 5.6% according to the consultancy LCG; 5.9% according to Focus Market; 6.1% according to Eco Go; 6.2% by C&T, also 6.2% according to FIEL and finally 6.5% according to Orlando Ferreres. It is thus that the accumulated inflation between January and November of the current year is close to 86%, much more than the update of the floor of the income tax.
