The Government formalized this Tuesday the increase in the non-taxable minimum Income Tax, whose floor became $280,792 gross monthly through the publication in the Official Gazette of Decree 298/2022.
The measure had been announced at the end of May by the Minister of Economy, Martín Guzmán, together with the president of the Chamber of Deputies, Sergio Massa.
In this way, the minimum non-taxable will rise from $225,937 to $280,792 pesos and it will be applied “for monthly gross salaries or assets accrued as of June 1, 2022,” the decree underlined in one of its articles, so that, as the authorities anticipated when announcing the modification, it will be exempt from the tribute also to bonuses.
For people who exceed this figure but do not reach a remuneration greater than $324,182the resolution provided that the Federal Administration of Public Revenues (AFIP) be “in charge of establishing the pertinent additional deductible amount” as stipulated by the tax law.
In the recitals it was highlighted that it was “necessary to partially anticipate, and until its complete application, the annual update” of the minimum non-taxable Income, with the aim of “avoiding the tax burden neutralizing the current benefits and in accordance with “the corresponding salary policy.
After a reform approved by Congress at the beginning of 2021, it was determined that the annual update of the floor to be exempt from the tax will be adjusted by the Riptethe average salary variation prepared by the Secretary of Social Security.
As indicated Fernandez and Guzman When presenting the project, since the update of the non-taxable minimums carried out in 2021, the number of workers who pay this tax was reduced by “approximately 1,200,000.”
