The Argentine Senate approved on Thursday the law that modifies the Income Tax, raising the floor of the Minimum Non Taxable Minimum to almost two million pesos, equivalent to fifteen minimum, vital and mobile salaries (SMVM), which will come into force as of 2024. teleSUR
Category
đź—ž
NewsTranscript
00:00 With 38 votes in favor and 22 against, the Argentine Senate approved the modification
00:05 of the income tax, a proposal promoted by the Minister and presidential candidate, Sergio
00:11 Massa.
00:12 After 18 hours of session, the repeal of the fourth category of income tax became law,
00:17 creating a tax for only those who earn more than 15 minimum living wages as of 2024.
00:24 This initiative creates a new tax on income from a certain amount, together with a progressive
00:29 tax on the surplus that goes from 27% to 35%.
00:34 Massa also announced that these actions are for the benefit of the country's economy.
00:40 With the approval of the law, only income will be taxed with a schedule of tax separate
00:45 from the determination of the current progressive scale and will not be subject to any other
00:50 tax.