The new Earnings floor will be $280,792 and the half bonus will not be taxed

The new Earnings floor will be $280,792 and the half bonus will not be taxed

Photo: Eliana Obregon

The national government announced that the new income tax floor for the fourth categorywhich covers the wages of workers in a dependency relationship, will be from June $280,792 per month24.3% more than the current $225,937.

This was announced by the Minister of Economy, Martín Guzmán, in a shared press conference on the esplanade of the Government House with the president of the Chamber of Deputies, Sergio Massa, and the co-secretary of the CGT, Héctor Daer.

Guzmán, Massa and Daer made statements at the end of a meeting they had with President Alberto Fernández, who did not participate in the announcement.

Photo Presidency
Photo: Presidency

Massa confirmed that The half bonus will be excluded from the payment of income tax which will be received together with next June’s salary, while minimizing the importance attributed to the dissemination of the letter he sent to Guzmán demanding the adjustment finally announced.

“Letters between the Legislative Branch and government officials are not a rarity,” he remarked, while explaining that with the new income floor “We are anticipating for June what should be applied in September.”

For his part, Guzmán recalled that during the presidency of Mauricio Macri, due to the failure to update the non-taxable minimum, “more than 2,100,000 people began to pay income taxes”, but that in 2021 “with a very important job by the deputy Massa and the national government were able to redefine the situation.”

In this way, he indicated, “it was possible to update the limits and reduce the number of workers who pay this tax by approximately 1,200,000.”

Massa pointed out that with the updating of the non-taxable base of the income tax it aims to “defend the purchasing power of wages.”

Photo Eliana Obregn
Photo: Eliana Obregon

In this sense, he pointed out that the objective is “so that what the worker earns is not lost to the State when paying taxes” and reiterated that “the worker’s effort is a remuneration, not a profit”, with which the State “has to tend to defend the purchasing power of wages.”

“The President’s decision is that next week they finish closing two parity that are missing and that is where what is called Ripte (Average Taxable Remuneration of Stable Workers) will be consolidated,” he added.

Massa clarified that “once the Ripte is consolidated, the decree that excludes the bonus from the payment of Profits comes out.”

“The recovery of wages has to be the objective that is maintained in order to have a virtuous circle that generates more work, greater consumption and a better quality of life for Argentines”Hector Daer

In his turn, Daer pointed out that “the recovery of wages has to be the objective that is maintained in order to have a virtuous circle that generates more work, greater consumption and a better quality of life for Argentines.”

“That this step that we take allows us workers, with the increase in parity, not to end up paying the State that increase in salary,” he said.

The meeting between the President, Massa, Guzmán and the general secretaries of the CGT lasted for more than an hour in the antechamber of the Eva Perón Roomwhere the last details of numbers of the proposal that the Minister of Economy had brought were considered, official sources commented.

Photo Eliana Obregn
Photo: Eliana Obregon

The sources specified that for the government the formal announcement of the measure is “the photo of the meeting” inside the Government House, and that the subsequent presence on the steps of the Rivadavia street esplanade “was a press conference ” in which details of the decision were specified.

The same sources denied that the letters published by Massa in which he requested the increase in the Income floor constituted an “extortion” by the head of the Chamber of Deputies to anticipate the decision, but rather that it is an issue “that he has historically “.

The sources considered “exaggerated” the covers of the newspapers in which “there was talk of confrontation by this measure; Sergio notified the President that he was going to give the letters, he is very prolix in that sense in terms of communication “.

“The measure is for the benefit of the workers, not the result of any confrontation, and everyone in the meeting laughed a little at this journalistic interpretation of the alleged confrontation, because if someone who gets along in this government, it is the president and Massa “, they added, and maintained that “Journalism wanted to put together an internship where there isn’t one.”

“An important decision to continue recovering income”

President Alberto Fernández indicated that raising the Income Tax floor is “an important decision to continue recovering the income of our people” and stressed that “from 2019 to today, we managed to exempt 1,200,000 workers from the tax.” .

In a post on his personal Twitter account, the president emphasized: “We raise the floor of the #ImpuestoALasGanancias to 0.792 and we define that the Christmas bonus is exempt from payment. Thus, we prevent people who benefit from the increases agreed in parity from having to pay Profits”.

“From 2019 to today, we managed to exempt 1,200,000 workers from the tax. An important decision to continue recovering the income of our people. #PrimeroLaGente,” Fernández concluded.

The Government announced today the updating of the non-taxable minimum Income Tax, which, as of June 1, will be $280,792 -compared to the current $225,000- and anticipated that the half bonus that workers receive together with their salary next June will not be enough for the tribute.

The Minister of Economy, Martín Guzmán, made the announcement this afternoon on the esplanade of the Government House, accompanied by the head of the Lower House, Sergio Massa, and the representatives of the CGT, Hector Daer, Carlos Acuña and Pablo Moyano, after a meeting led by President Alberto Fernández.

Letters

The measure on Profits was announced after the letter with a request in that sense from Massa to Guzmán, who had already been “talking in recent days” about it, was released.

The letter It was the second, if you take into account the one held on May 13in which he warned that the non-taxable minimum of $225,937 had been delayed due to the evolution of inflation and the pressure on wages.

“We work protecting and alleviating the situation of the workers; and furthermore, as the paritarias are on the rise and improving income, in the case of Earnings we foresee a trigger clause, to accompany the improvements,” said the president of Deputies in the letter sent to the head of the Palacio de Hacienda.

That same May 13, Guzmán himself was in charge of confirming that the Income Tax floor for dependent workers will be updated based on the evolution of inflation.



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