A total of 312,864 workers will stop paying Income Tax, With the entry into force from January 1 of the new update of the non-taxable minimum, which will be located at 404,062 pesos, the Ministry of Economy reported this Thursday.
“With great effort from the State, but convinced that the salary is not profit, but remuneration, on January 1 the floor from which the Income Tax is paid will be updated again, bringing #FiscalRelief to more than 300,000 workers who will stop paying it”, expressed the Minister of Economy, Sergio Massa.
In a post on the social network Twitter, he said that “with this #FiscalRelief in 2023, no worker who earns less than 404,062 pesos will pay it, also supporting progressivity in the entry to avoid jumps in the tax scales”.
“Also, personal deductions will be updated and the sections of the tax scale to generate #FiscalRelief for higher-income wage earners,” he added.
With great effort from the State, but convinced that the salary is not profit, but remuneration, on January 1 the floor from which the Income Tax is paid will be updated again, taking #TaxRelief to more than 300,000 workers who will stop paying it. pic.twitter.com/jIS38uF2sg
— Sergio Massa (@SergioMassa) December 8, 2022
According to information from the Ministry of Economy, a single employee with a gross salary of $350,000 who today pays $11,159 per month will pay $0; while a single employee with a gross salary of $400,000 that today pays $43,592 per month will also stop paying the tax.
A married employee, with two children, With a gross salary of $500,000, which today pays $72,287 per month, he will pay $20,892, which represents a tax relief of $51,395 per month.
