Almost two weeks ago it was reported new floor to pay Income Tax: Starting this month, throughout the country those who collect less than 506,230 pesos will stop paying the tax. This tax relief measure was promoted by the Minister of Economy, Sergio Massa, and became official this Sunday.
The statement states that “no tax withholding will be applicable when the gross remuneration does not exceed $506,230, inclusive. Likewise, in those months in which the gross remuneration for the month exceeds $506,230 and is less than or equal to $583,851, the withholding agents will compute an increased special deduction”.
Through the measure, approximately 250,000 employees in a dependency relationship will benefit. Likewise, it was communicated that “These provisions will be applicable to remunerations and/or gross monthly salaries accrued as of May 1, 2023, inclusive, with the exception of the provisions of article 1, which will take effect in accordance with the there provided.
It should be remembered that since January 2023, monthly gross remunerations that do not exceed $404,062, inclusive, did not pay income tax.
In the case of Cordovaare 20,311 employees who will no longer be included in the payment of Income Tax. The two main districts that will benefit from the tax relief are the Province of Buenos Aires, with 112,267 people, and the City of Buenos Aires, with 31,094.
