Argentine Economy Minister Sergio Massa announced this Thursday (8) that the government will reduce the number of Income Tax payers in January, amid union demands for a tax on medium and high wages.
In a series of publications on his Twitter account, Massa indicated that the increase in the wage floor from which the tax is paid will benefit 312,864 workers, who will stop paying the tax as of January, but he did not indicate what the cost of the tax measure.
“With this exemption in 2023, no worker who earns less than 404,062 pesos (about US$ 2,378) will pay it, also maintaining the progressiveness of entry to avoid jumps in the tax tables”, announced Massa.
With this update, less than 600,000 wage earners in the country will pay the tax, less than 10% of all workers, he added.
The measure will certainly be welcome at a time when inflation forecast for 2022 is around 100%, which strongly erodes purchasing power.
High inflation and economic imbalances generate discomfort among workers due to the deterioration of income and push almost 40% of the population into poverty, which generates more protests in the streets.
Source: CNN Brasil
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