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Earnings: how will the new law affect single workers, married workers with two children and the self-employed? - Infobae
Source:
www.infobae.com
January 24, 2024
The reform that the Government introduced in the omnibus law proposes a quarterly update in the tax scales, among other issues
The adjustment of the scales for those who pay Earnings will be carried out quarterly if the omnibus law is approved.
The Government's Personal Income Tax bill , which will replace Profits , finally entered Congress . The norm stipulates a return to values in force as of last September, prior to the last reform, which will lead to some 800,000 taxpayers being covered by the tax again. How much will single workers, workers with children and the self-employed pay for this new rule? How often will the floors be adjusted and at what rate?
The initiative promoted by the Executive Branch contemplates a non-taxable minimum of $2,360,829 on the salaries of employees in a dependency relationship.
The CEO of SDC Asesores Tributarios , Sebastián Domínguez, explained to Infobae that a single employee who receives a salary of $1,250,001 gross per month will not be covered by the personal income tax. On the other hand, the specialist clarified that for a married worker with two children who earns up to $1,590,062 gross per month, he will not pay the tax either.
“The reform has a positive point, which is returning to the essence of the Income Tax because it ended with the setting of a floor and those at the top quickly reached the highest rate of 35 percent. In addition, the deduction of non-taxable income, special benefits and family responsibilities are returned to the same for all taxpayers regardless of salary,” said the tax expert.
drive.google.com
“The project contemplates an update of the deductions for non-taxable income, special deduction, spouse and children. This is positive because in 2024 the deductions were updated compared to 2023 due to the variation in the RIPTE, however the value reached takes into account last year's inflation, that is, the current values are doubled and updated ones are reached in real terms. Although these values are better than before, they continue to be low and should be higher so that taxes are paid from higher salary levels,” Domínguez added.
Source:
Ganancias: ¿cómo afectará la nueva ley a los trabajadores solteros, casados con dos hijos y a los autónomos?
La reforma que introdujo el Gobierno en la ley ómnibus plantea una actualización trimestral en las escalas del tributo, entre otras cuestiones
www.infobae.com
January 24, 2024
The reform that the Government introduced in the omnibus law proposes a quarterly update in the tax scales, among other issues
The adjustment of the scales for those who pay Earnings will be carried out quarterly if the omnibus law is approved.
The Government's Personal Income Tax bill , which will replace Profits , finally entered Congress . The norm stipulates a return to values in force as of last September, prior to the last reform, which will lead to some 800,000 taxpayers being covered by the tax again. How much will single workers, workers with children and the self-employed pay for this new rule? How often will the floors be adjusted and at what rate?
The initiative promoted by the Executive Branch contemplates a non-taxable minimum of $2,360,829 on the salaries of employees in a dependency relationship.
The CEO of SDC Asesores Tributarios , Sebastián Domínguez, explained to Infobae that a single employee who receives a salary of $1,250,001 gross per month will not be covered by the personal income tax. On the other hand, the specialist clarified that for a married worker with two children who earns up to $1,590,062 gross per month, he will not pay the tax either.
“The reform has a positive point, which is returning to the essence of the Income Tax because it ended with the setting of a floor and those at the top quickly reached the highest rate of 35 percent. In addition, the deduction of non-taxable income, special benefits and family responsibilities are returned to the same for all taxpayers regardless of salary,” said the tax expert.
Ganancias.pdf
drive.google.com
“The project contemplates an update of the deductions for non-taxable income, special deduction, spouse and children. This is positive because in 2024 the deductions were updated compared to 2023 due to the variation in the RIPTE, however the value reached takes into account last year's inflation, that is, the current values are doubled and updated ones are reached in real terms. Although these values are better than before, they continue to be low and should be higher so that taxes are paid from higher salary levels,” Domínguez added.
How much will single employees pay in earnings:
The CEO of SDC Asesores Tributarios provided a detail about how much single employees in a dependency relationship will pay:- Single workers with a gross salary of more than $1,250,000 will not pay the new Personal Income Tax.
- If that same employee receives a salary of 1,600,000 gross pesos, the tax would be approximately 45,500 pesos.
- If you have a gross salary of 2,000,000 pesos, you would pay around 150,000 pesos.
How much are married employees with two children going to pay in Earnings?
Meanwhile, Domínguez gave some examples of how much married employees with two children will pay for the new Personal Income Tax if the Government's bill advances in Congress:- A married employee, who can deduct a spouse and two children, with a salary of up to 1,590,000 gross pesos will not pay Profits.
- If you receive a gross salary of 2,000,000 pesos you will pay 58,000 pesos per month.
- If you have a salary of 2,400,000, you will have to pay income taxes of around 282,000 pesos.
