translated from Spanish: Income Tax: The agenda is defined to begin the debate and sanction the law

The Chamber of Deputies will sanction as the first item of the regular session that begins on 1 March the draft reform of the Income Tax promoted by officialism, with the aim that more than one million workers do not pay that tax from the sanction of the law. While the idea was for the discussion to take place in the venue in the early days of March, the initiative would begin to be discussed in the Committee on Budget in the coming days, as the Chief of Staff, Santiago Cafiero, advanced that the Chair would enable its treatment at the special session, which ended on 28 February. The head of the Chamber of Deputies, Sergio Massa, presented a week ago the proposal to reform the Income Tax, which was designed together to the teams of the Cabinet Headquarters, the Ministry of Economy and the AFIP. Massa told Télam Radio this Sunday that the FdT project to reform income tax and raise the non-taxable minimum, which has already seized the support of most legislative blocs, is “a measure of enormous tax relief for workers.” It is a measure of enormous tax relief for more than 1 million workers and 200 thousand retirees, so it will improve the situation of the middle class,” he highlighted in statements made to Télam Radio.The project raises the non-taxable minimum to 150,000 gross pesos per month, therefore workers who charge up to 124,000 net pesos of pay will not be deducted from the tax in the Fourth Category of Earnings.This measure will benefit 1,267,000 workers of the total of 2 million registered employees who now pay this tribute, as estimated by the authors of the project. In addition, the initiative states that those who charge up to 173 thousand gross pesos will also suffer lower discounts than today, while those who collect the highest salaries of the pyramid will pay the same values as today. One of the points to be resolved will be how the provinces will be compensated for the lower tax revenue that presupposes this update of the tax, since it is a co-priority tax.

Original source in Spanish