The Federal Administration of Public Revenues (AFIP) updated the floor for the payment of income tax for salaries above $ 225,937, which meant a rise of 29.1% compared to the last increase from which the aliquot is paid .
If the ceiling of $ 150,000 established in law 27,617 is taken to start contributing, the increase was greater than 50%.
The increase in the remuneration achieved by the Income tax also occurs for monthly salaries between $ 225,937 and $ 260,580 gross.
The measure also exempts from the payment of the Supplementary Annual Salary to workers whose average monthly remuneration for the first semester does not exceed $ 225,937.
The new values of personal deductions from Income Tax can be consulted at https://t.co/5dEGYNWMlJ pic.twitter.com/iJB4miIpYx
– AFIPComunica (@AFIPcomunica) December 23, 2021
“With the aim of strengthening the process of recovering the purchasing power of workers, in 2021 the salary level from which the Income Tax is paid was increased twice,” the public body noted.
The first was when it went to $ 150,000 gross in June in accordance with the provisions of Law 27,617, while the second was an advance on account of the annual increase that brought the value to $ 175,000 in September.
Decree 620/2021 detailed that it partially anticipated the annual update, so the January calculation is made in relation to the initial value of $ 150,000.
With the application of the 50.62% that arises from the Ripte index (Average Taxable Remuneration of Stable Workers) prepared by the Ministry of Labor, the non-taxable minimum is also updated, which in 2022 stood at $ 252,564.84 per year.
Childcare expenses on children up to three years old do not pay Earnings up to an annual cap of $ 67,000, while the exemption for disabled daughter or son was doubled and the age cap was eliminated
In turn, the deduction for spouse will go to $ 235,457.25 while for child it is $ 118,741.97 and will reach $ 237,483.94 in the case of children disabled for work.
In the first quarter, the ruling party promoted a bill by which the floor was updated to contribute for Earnings from $ 150,000, a matter that became effective as of April.
At the time, President Alberto Fernández assured that said law made it possible to make “the tax system more progressive, making those who have the most pay more and those who receive resources only from a salary pay less.”
He added that these changes helped resolve “the purchasing power of more than a million workers and also retirees who were affected.”
One of the changes introduced at the last minute during the treatment in Deputies establishes that former presidents and vice presidents of the Nation will pay Profits on life assignments
“And the results are interesting, since one million 267 thousand workers stop paying the tax, and it is a benefit for more than 90% of salaried people,” he said.
In September, the Government raised the floor again, as an advance, to $ 175,000 per month, and included mutual funds and financial trusts in the tax exemption for financial instruments denominated in pesos.
From the Government, they assured that this update allowed that almost 1.3 million workers continue to be exempt from paying the tax.
In addition, on both occasions the payment of Earnings was also exempted with the payment of the half bonus to the workers.
It is established that the law will take effect on January 1 of this year, so the Government returned the discounts already made to those who corresponded
The bill to reform the tribute promoted by the ruling party entered the Chamber of Deputies in March and was approved by a large majority, and was later transferred to the Senate, where it was also voted by the majority of legislators.
One of the changes introduced at the last moment during the treatment in Deputies establishes that the former presidents and vice presidents of the Nation will pay Profits on lifetime allowances.
Likewise, it is established that the law will be effective as of January 1 of this year, for which the Government returned the discounts already made to those who corresponded to them.
On the other hand, it established that childcare expenses on children up to three years old do not pay Earnings up to an annual limit of $ 67,000, while the exemption for disabled daughter or son was doubled and the age limit was eliminated.
Productive bonuses up to a cap of 40% of profit, and overtime of waste collectors were also exempted from the tax.
