Monday, October 2, 2023

The details of the Massa bridge project

The minister Sergio Massa present the project today so they don’t have to pay Income Tax fourth category: workers and retirees. According to the document you are accessing scope, only directors of corporations, CEOs, managers and assistant managers and privilege pensions will be covered. In this sense, the project means that a very small percentage of the total number of employees in a dependency relationship throughout the country will be taxed.

According to the Economy, this proposal requires a law, because in addition to a tax item, it is an “annual” tax in the fiscal year. So it will be effective from January 1, 2024.

However, as Ámbito learned. A “bridge” scheme will be implemented with similar benefits starting with salaries in October this year.

The scheme initiated by the Government will mean a boost for a wide range of incomes. According to the document, they will only pay Profits those workers whose total monthly income exceeds $1 million, although this number may increase in the coming hours.

For example, A person who receives a gross monthly salary of $800,000 and who pays social bills of $132,001 must pay income of $117,690, so the net salary amounts to $550,308. With the change proposed by the Government, the salary jumps by 21%, as it reaches $667,998 (the balance discount from Income is returned).

The same applies to different upper bands. For example, for a person whose income reaches $1 million in gross monthly wages, plus social security contributions, an income tax of $187,690 is deducted. With the reform proposed by the Government, in this case, the net income from $680,308 and $867,998.

As reported last night by Economy sources, the final project will be set at 5 pm, so its communication is expected at that time.

At the same time, as he knows scope, We are working on a mechanism that automatically updates and not the Minimum Living and Mobile Wage.

Along these lines, it has not been reported whether the project plans to include a tax compensation article or, perhaps, a new tax to increase the collection.

According to the Economic data, today salaries amounting to more than 700,000 pesos are exempted from Income. The projected salary increase through December 2023 is 890,000 with tax deductions. This means 7 percent of workers are in a dependent relationship. This same figure reached 30% of the total number of workers during the mandate of Mauricio Macri (2.4 million workers) and 1.2 million in 2015.

Nation World News Desk
Nation World News Desk
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