translated from Spanish: Today Deputies will give opinion to the profit reform

Today, a plenary of committees of the Chamber of Deputies will give an opinion in favour of the draft reform of the Income Tax and is expected to be dealt with on Tuesday or Thursday of next week. The initiative envisages benefiting more than 1.2 million workers, workers and retirees who will be exempt from paying the tax if they charge up to $150,000 gross wages. The Budget and Finance and Labour Legislation committees, led by officials Carlos Heller and Vanesa Siley, will meet on Thursday at 3.30 am to give an opinion to the project seeking to grant tax relief to 1,280,000 people. 

The firm will have Neuquino.La broad consensus as it will be backed by the Front of All, the Interlock Federal Development Unit, Federal Unity, Federal Action and People’s Movement Neuquino.La intention of the bench of the Front of All, which leads Máximo Kirchner, is to sanction it on Tuesday or Thursday of next week, so that the Senate will make it law in the first fortnight of April. The project
The initiative drafted by the president of the legislative body, Sergio Massa, was expanded with proposals submitted by deputies of union extraction and gremialists to add new benefits to workers. In this sense, officialism had agreed to exclude the payment of the aguinaldo in the case of wages of up to $150,000 gross and retirees receiving up to eight minimum conditions, and the concubine deduction. In addition, the provision of workwear, equipment for exclusive use in the workplace and the award or payment of training courses will now be excluded from the payment of the tax, and day care expenses up to three years up to $67,000 per year are incorporated with proof.

The exemption will also be maintained until 20 September 2021 by the guards and overtime paid to health personnel who had to extend their working days in sanatoriums and hospitals because of the coronavirus pandemic. In addition, the deduction for disabled daughter or son that is currently $78,833 per year will be doubled at the express request of trade union representatives. In statements to the press, Massa said that “the decision is to reclaim income, build protection for the worker and his family, and give tax relief to the middle class.” The project that extends the deduction so that workers who receive up to $150,000 gross do not pay profits will be applied from January 1, and the Government plans to return the discounts that have been made to employees who will be exempt from that tax. The tax cost of modifying one of the most resourced taxes on state coffers is $41.25 billion, tax policy secretary Roberto Arias said. This reduction in resources will be financed by a percentage of the tax reform paid by companies for profits and dividend distribution, an initiative that the government sent to Congress Thursday night.

Original source in Spanish

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