05/25/2021 6:20 AM
Clarín.com
Economy
Updated 05/25/2021 6:20 AM
The national government regulated the modification of the Income Tax on Tuesday, after
a long delay
since its approval in Congress on April 8.
Through a Decree of Necessity and Urgency that has the signatures of Alberto Fernández, Martín Guzmán and Santiago Cafiero, progress was made after a long wait, which however did not come to an end because now the AFIP must define fine but important details, such as
how the refunds will be implemented
.
The 47-day delay to make the rule official had begun to generate
rispidences within the governing coalition
.
It is that the great promoter of the changes in the law was Sergio Massa, the president of the Chamber of Deputies.
From the Renovador Front, they emphasized that the issue aroused
"annoyance"
, because "everything was aimed at getting it out."
They had even warned that Massa would come out to publicly complain to his partners if they continued to stop the publication
It is not a minor detail that the work of the AFIP is missing, because although the law is already in force and retroactive to January 1, it will define how the contributions withheld since January will be returned to workers
who earn less than $ 150,000
.
In principle, and as advanced by the President during the message issued to announce the strict confinement that is in force until May 30, the return
would be in 5 installments and from July
.
This is equivalent to a
fiscal effort of more than $ 40,000 million
, indicated a known score after the president's speech.
The new Earnings law sets a floor of $ 150,000 gross per month to pay the tax this year.
In this way,
1.2 million workers
in a dependency relationship will stop paying, as will retirees who earn less than the equivalent of 8 minimum pensions.
When the law was approved, the benefits were expected to be felt in the April salaries that were paid in May, but accountants and tax experts warned that if the regulation did not come out before the 24th of this month, companies will not make it in time to include it in the salary settlement.
The keys
In this way, some 1,267,000 workers and retirees stop paying the tax, which represents a benefit for
more than 90% of wage earners
.
.
The new Earnings law sets
a floor of $ 150,000 gross per month
to pay the tax this year.
Retirees: only those who earn
more than 8 minimum salaries will be
taxed
.
The bonus is excluded
.
Children with disabilities
: the age limit to deduct them is eliminated.
Health personnel
: is exempted from paying the tax for overtime or shifts until September.
It introduces the figure of a
concubine
within the family charges.
It allows deducting expenses for the
purchase of educational tools
for children, without a limit.
It allows deducting
expenses in training courses
: up to $ 67,071.36 per year.
It allows deducting
expenses for mobility and per diem
, stipulated in collective agreements: up to $ 67,071.36 per year.
Fiscal cost
One of the reasons that delayed the implementation of the new law was the
fiscal cost
.
To take care of the pesos in a scenario that is complicated by the pandemic and with the expenses that the second wave implies, Minister Martín Guzmán sought not to be left unguarded.
Last Thursday, part of the fiscal horizon was cleared: on the one hand, the
changes in Profits for companies
were approved by Deputies
and on the other, the Treasury managed to refinance $ 250,000 in debt placements.
The new non-taxable minimum in Earnings will mean that the Treasury will stop receiving revenues of
$ 45,000 million
this year
.
According to what was approved in the Lower House, the rate will remain at 25% for companies with profits of up to $ 5 million.
Those that earn between $ 5 million and 50 million will pay 30% and above that limit the rate rises to 35%.
A report from the Congressional Budget Office estimated a
positive fiscal impact of $ 320 billion
through the new rates.
DB
Look also
Alberto Fernández closed the internal crack due to the rates
Argentine bonds: the recommendation from the US that surprised everyone