06/16/2021 5:07 AM
Updated 06/16/2021 8:03 AM
The Government promulgated this Wednesday the modification of the Income Tax Law for commercial companies that establishes
new staggered rates
with three segments based on the level of accumulated taxable net income.
The modification of Law 27630 was published in the Official Gazette after being approved by the Senate, on June 2, and Deputies, on May 20.
The initiative promoted by the ruling party did not have the support of Together for Change.
The rule seeks to
alleviate the tax burden
on small and medium-sized companies, by proposing a tiered aliquot structure with three segments based on the level of accumulated net taxable profit of each commercial company.
Thus, the law establishes a first tax bracket of 25% for accumulated net profits of
up to $ 5 million
, an aliquot that will not only cover SMEs but also most medium-sized companies.
The second notch - 30% - is for accumulated net profits of more than $ 5 million and
up to $ 50 million
, and a last segment of 35% for accumulated net profits of
more than $ 50 million
Dividends distributed will pay in all cases the special rate of 7%, through the current tax.
The initiative establishes that the payment is progressive, that is, that a company that has had $ 60 million in annual net profits will pay: 25% for the first $ 5 million;
30% for the next $ 45 million;
and 35% for the remaining 10.
The law establishes that the amounts provided for in the scale
will be adjusted annually
, as of January 1, 2022, and the annual variation of the Consumer Price Index (CPI) provided by the National Institute of Statistics and Censuses (INDEC) will be considered. ), corresponding to the month of October of the year prior to the adjustment, with respect to the same month of the previous year.
"The amounts determined by application of the described mechanism will be applicable for the fiscal years that begin after each update," it was specified.
Likewise, the tax for the net profit of human persons and undivided inheritances, derived from dividends and profits, is reduced from 13 to 7%.
The project was presented by the Executive as a way to fill the fiscal gap - estimated at $ 48,000 million - that will generate the reduction of the income tax floor for individuals.
Changes in Earnings: the improvement for employees can reach up to $ 115,686 in the year
Entrepreneurs claimed to remove the exchange rate and predictability to be able to invest in Argentina