Income Tax: Guzmán anticipated that the floor will rise but did not set a date

The response eludes the specific request of the president of the Chamber of Deputies, Sergio Massa, who sent him a letter requesting that the application of the update be brought forward and also slipped the suggestion of what should be the new floor.

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Currently the income tax base is $225,937.

What the law says about Income Tax

According to the law, the Income Tax floor for workers in the fourth category is carried out in January of each year, but the Executive Power is empowered to modify it by decree. This was the case last year when it was applied in September.

“It will be done as stipulated by law,” they affirmed from the Palacio de Hacienda, a response that also includes the possibility of a presidential decree to comply with the norm and Massa’s request. The decision is also linked to how the inflation rate evolves in the coming weeks.

Massa asked Guzmán that the update that should take effect from January 2023 be brought forward to June of this year. According to evaluations carried out by Massa’s economic advisers, the new minimum should be around $265,000.

Currently that value is $225,937a figure that has been outdated after the last parity in which staggered increases of this 60% were agreed.

This situation caused wage earners who had been exempt from paying the tax to once again be covered by the tax. losing the obtained by the increases of the remunerations.

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