Impact of changes in income, taxes that are increasingly distorted and subject to discretion

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19:03

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The lowest gross salary hit by income tax since last June is $280,792. That month, the figure was updated to $225,937 after an automatic annual adjustment in early 2022. After inflation hit 22% in the third quarter of the year, with the sharp depreciation of the peso, there will be The new update, which will take effect from November paychecks and which will bring the new tax base to just over $330,000, At least according to that What Economy Minister Sergio Massa said this week on Radio Rivadavia.

To determine the lowest wage rates for taxation along with profits The evolution of the average taxable income (ripte) of stable workers follows. This is an indicator that the law approved at the end of 2016 ordered to be used as a reference value to update the entire tax scheme, which, It is done at the beginning of every year since the beginning of 2018.

as reported ღ Weeks ago, as well as the last time when it touched on the basic income of taxation (in June), the value of Ripte was discussed until March, for a new modification is expected that what happened with this salary index. of April. And what Massa said suggests that there will be a review of what happened to that variable in the second quarter of the year, or a variation of it, through July. If Ripte’s evolution was taken before June, The new lowest salary reached by Revenue will be $327,291. If instead it was decided to consider the increase until the seventh month of the year, then The new threshold will be $344,700. And if the April-August rate increase is taken as a reference for the readjustment (this is the last published data for the eighth month), then the income figure should start paying the income. That would be $360,453.

After the changes introduced last year, to find out whether someone is paying tax or not, the given base compares the salary of the given month, as well as the average salary of the given period established by the regulation. In any case, the adjustment will be, as it happened in 2021, Advance payment of tax base increase to be made in January, Under the annual automatic renewal mechanism approved under the Cambiemos government. This update is made by reference Annual variation of the variation index of formal wages up to the month of October.

Measures to update the amount of the lower salary achieved by tax outside of the annual adjustment, have a reason for being at a very high level of inflation, which is losing purchasing power and income day by day. In fact, against the backdrop of accelerating price growth, the adjustment is becoming insufficient. When there are no adjustments in the tax scheme or there are, but they are insufficient against the background of price increases, Greater tax pressures arise on incomes that have not only not improved but have generally lost value in real terms.

On the one hand, more workers begin to receive tax rebates, and on the other hand, those who already pay it have more withholding. Regarding this last point, the scheme of partial adjustments during the year provided for by law 27,617, promoted in 2021 by Mass, does not involve adjustments for all salary levels, since the table values ​​that determine them have not been changed. Tax will be calculated.

The mechanism includes, however partially, A return to political discretion to manage tax collection, What we will avoid is if the law stipulates that adjustments are made more frequently (quarterly, for example) and include the entire profit scheme. He gave the last law Special powers of the executive power -This already implies the possibility of discretion-, to make such changes as are now announced, which do not cover all workers subject to the tax.

The rules in force today lead to distortions and situations of inequality in companies. There are, for example, cases when With more responsibility and pay, employees end up earning the same or even less than others who, because they have a lower gross salary, are excluded from the tax burden.

Furthermore, in high inflation conditions such as the current one, the percentages of nominal increases in total wages for those paying taxes are much lower when compared to the amount actually earned. period and in the second. So there is Strong losses of purchasing power and situations of inequality Those who have no income tax deductions and earn a gross salary close to the tax threshold (and sometimes not so close).

The 2021 law achieved the goal of having a person with a lower salary pay income using a specific modality: they set Special deductions (amounts that are deducted from income before tax is calculated), to the extent that those whose remuneration is below a certain amount are exempted from the burden. It was also determined that action A Table of increased deductions – which have the effect of tax relief – for those in a certain range of gross wages, which today ranges from $280,792 to $324,182.

If the tax threshold is updated now, that range would become $327,290 to $377,866, $344,700 to $397,966, or $360,453 to $416,152, depending on whether Ripte is considered before June, July or August.

With the latest changes to the tax scheme, which made it very difficult to calculate, the government proposed that the number of employees with income tax credits should not exceed a certain number. Despite this, This objective is not related to the measurement of taxable capacity, which must be strictly observed,

The high complexity in which the revenue scheme has recently been plunged is reflected in various aspects. Since June of last year, to determine whether it is appropriate to deduct income from an employee’s salary, the employer must take into account not only the total salary of each month, but also as well as the average salary for the period past the sixth month of the year; If both numbers exceed $280,792, it is taxable. The same mechanism is used to determine whether someone falls within the income range for increased deductions. Until May, the average was recorded from January to the month for which the salary was charged.

Instead, let’s determine whether or not bonus recorded or not The average salary from the beginning of the year is considered; If the number exceeds $280,792, that portion of the worker’s earnings must be considered taxable. now, It is likely that the rule will change depending on what is defined in the new regulation, which will be known in the coming days.

The renewal of the lowest salary achieved by tax during the year will, in principle, be considered taking into account the adjustment of the scheme that arrived in January. At the beginning of 2023, and if there are no regulatory changes, Ripte’s progress will be calculated from October 2021 to October 2022, and the interest earned will be applied to the amount of $175,000, or the first to settle it. year. This was the rule that was observed at the beginning of 2022. When Ripte’s annual growth rate of -50.62% applied to the amount of USD 150,000, which was the maximum salary that was not reached by the earnings in the first months of 2021, a tribute that is increasingly mixed between effects. Changes in inflation and related regulations.