Changes in taxation will benefit more than 23,000 small businesses, said Mieres
The Executive Power sent to Parliament the bill that modifies the taxation of micro and small companies, which will benefit more than 20,000 of them, reported the Minister of Labor and Social Security, Pablo Mieres. Thus, when the company increases its billing, the rate difference will be applied for the increase in the amount above the ceiling. It is a relief for the citizens, he indicated.
Mieres explained, in a press conference held this Friday the 3rd at the ministerial headquarters, that currently if a company increases its billing, it goes to a higher scale and must pay a higher rate. “It seems unfair to us because it encourages us not to grow, because you have to bill a certain amount to avoid a higher rate,” he said.
The implementation of the tax change in the Income Tax on Economic Activities (IRAE) will benefit nearly 23,000 companies. With the modifications provided for in the bill submitted to Parliament, the company will pay the difference in the rate calculated by the percentage of billing that exceeded the ceiling.
Relief and increased income
“We are talking about relief for citizens and also about increasing the income of workers and retirees,” he stressed.
He explained that the project also contemplates debt forgiveness for more than 11,000 monotributistas companies of the Ministry of Social Development (Mides). “It includes people who had a very difficult time during the pandemic and in some cases were left in debt,” he said.
Mieres also valued the management balance made by the President of the Republic, Luis Lacalle Pou, on Thursday the 2nd before the General Assembly.
He considered that the ads have a positive impact on the income of workers, 60,000 of whom earn around 40,000 pesos a month, who will stop paying personal income tax.
“We are talking about tax relief measures that impact all Uruguayan workers and also 20,000 retirees who are not going to pay the IASS anymore,” he added.
