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Profits, Monotax, Personal Assets and money laundering: one by one, all the changes decided by the Senate - Infobae
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Ganancias, Monotributo, Bienes Personales y el blanqueo: uno por uno, todos los cambios que decidió el Senado
Antes de acordar el dictamen entre el gobierno y la oposición, se hicieron importantes modificaciones en el paquete fiscal que acompaña a la Ley Bases
www.infobae.com
May 31, 2024
Before agreeing on the opinion between the government and the opposition, important modifications were made to the fiscal package that accompanies the Bases Law
Meeting of the Budget and Finance Commission in the Blue Room of the Senate of the Nation (Senado de la Nación)
In order to reach the consensus necessary to sign the opinion and advance to the debate in the Upper House, the Government accepted a series of changes proposed by the opposition to the fiscal package. Within this framework, modifications were made on Profits, monotax, Personal Assets and money laundering.
Specifically, for Ganancias , one of the central changes is the one that introduces a differential for salaries in the Patagonian area, a repeated claim by the governors of that region, who argued that the cost of living in the southern provinces is higher. .
For this reason, article 78 bis incorporated into the initiative states that “in the case of employees in a dependency relationship and retirees who live in the provinces and/or, where applicable, district, referred to in article 1 of Law 23,272 and its modifications, the deductions mentioned in article 30 will increase by 22% (twenty-two percent).” The Patagonian zone includes La Pampa, Río Negro, Chubut, Neuquén, Santa Cruz, Tierra del Fuego, and the Buenos Aires district of Patagones.
Another change is that there will be the possibility of deducting the interest paid by a debtor for UVA mortgage loans , just in weeks when a group of public and private banks once again offered this type of loans tied to inflation plus an additional interest rate.
If the Government's project is approved in the Senate - although it will later need revalidation in the Deputies -, employees will pay the Income Tax based on a gross monthly remuneration of $1,800,000 (in net terms, it is a salary of $1,494,000 ) if deductions do not apply for spouses or children, nor for certain expenses that may be deducted from income for the purposes of calculating the tax.
Monotribute
Article 100 of the fiscal package extends the existence of the figure of the social monotax, which had been eliminated in the original wording of the initiative, and which provides for certain sectors linked to the popular economy that the tax payment component for being part of the simplified regime is lower than the initial monotax category.
Finally, the social monotax will continue to exist. (Illustrative Image Infobae)
“When the small taxpayer adhered to the Simplified Regime for Small Taxpayers (RS) is a subject registered in the National Registry of Local Development and Social Economy Effectors of the Ministry of Human Capital and has an annual turnover of less than 50% of Category A, "The integrated tax contemplated in Article 11 of the Annex to Law No. 24,977 should not be paid," the modified rule states.
The Government project updates the billing and quota ceilings, with increases of between 300 and 330 percent. The annual income ceiling would be $68 million and eliminates the differentiation between activities (commerce and services) to be in the simplified regime. Also, the amounts of the entire scale and the amounts to be paid would increase.
Monotributistas of category A, with lower income, could bill up to $6,450,000 annually. For those who are in category K, the highest, the amount amounts to 68 million pesos. In addition, there would be an increase in the amounts paid monthly by monotributistas in concept of the integrated tax, and in contributions to the retirement regime and social work.
Money laundering
In relation to the text that was approved by Deputies, five major changes regarding money laundering stand out. On the one hand, it was established that cryptocurrencies cannot be laundered abroad , as had been established in the first instance.On the other hand, it was established that properties in the name of companies can only be laundered if they were declared by the company .
In addition, the ban on officials from adhering to money laundering was increased from 5 to 10 years. Regarding relatives of officials, they included siblings and all first and second graders in the ban.
One of the modifications on money laundering implies that cryptocurrencies cannot be laundered abroad. (Reuters)
Finally, tools were included for the provinces and productive investments, as a possible tax-free destination of the funds that will be deposited in special accounts.
Personal property
The changes in the fiscal package also affected the Personal Property Tax . Specifically, a 20% increase in the rates was established for those who enter laundering.Specifically, for taxpayers in general the rate will be 1.5% for 2023; 1.25% by 2024; 1% by 2025; 0.75% for 2026, and 0.25% for 2027 onwards.
Those who enter laundering, on the other hand, will pay 1.8% in 2023. 1.5% in 2024, 1.2% in 2025, 0.9% in 2026 and 0.3% from 2027 onwards.
Meanwhile, the increase in the floor to $100 million of the floor from which taxes must be paid for the fiscal period of 2023 was maintained - the declaration of which must be made starting next month - while the deduction for personal housing increases for the same year at $350 million.
