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Income Tax: from Economy they confirm that they will advance the increase in the non-taxable minimum to May or June

Following the request made on Friday by Sergio Massa, president of the Chamber of Deputies, a member of Martín Guzmán’s team at the Ministry of Economy confirmed that “6 or 7 months” will be advanced the increase in the non-taxable minimum Income Tax.

It was Roberto Arias, Secretary of Tax Policy of the Ministry of Economy, who confirmed the news. “The same would be done here: last time we advanced it 3 months, here we would be advancing it 6 or 7 months“, he pointed out in dialogue with Futurockafter recalling that in 2021 the increase that was agreed for January 2022 was also brought forward to October.

In the interview, Arias also explained that “since the adjustment is made backwards, when there is higher-than-expected salary growth, the number of workers who pay earnings may increase,” but he maintained that the government does not want “an increase in number of workers who pay” this tax.

On Friday morning, Massa had raised the need for the Government to increase the floor from which workers in a dependency relationship pay taxes on Earnings at $265,000 from next monthinstead of January 2023.

Guzmán, for his part, responded a while later to the leader of the Renovating Front with sarcasm: “It is obvious that the floor will be updated from which workers in a dependency relationship pay (the tax on) Earnings based on the evolution of inflation.

Beyond the fact that the minister did not specify the answer to the deputy’s proposal (when will that floor go up), something that one of his officials did this Sunday, the public answer confirms two things. First, the minister publicly challenges and is willing to continue doing so, both the former president and the president of the Chamber of Deputies. Second, like Kirchnerism, Massa took action during the week to mark the field for the minister. Although perhaps not as vehemently as the vice president.

Beyond that political fight, Arias explained that the current situation is due to the fact that the wage parity that used to be done once a year is now done every 6 or 3 months: “Increased the frequency of raises”.

But he also criticized the fact that the debates on the economic course within the ruling coalition are held “in the open” and raising questions “outside the universe of what is possible.”

“It is important that there is the greatest possible cohesion regarding the course. The prices and other decisions of the economic agents have to do with the expectations they have and with the information and with what is communicated: if a party says that it does not agree , certain confusion and certain doubts are generated. The vision that we have is that it would be better if that discussion did not take place in the open“, he remarked.

According to the official, “the lack of growth is the most serious problem that the Argentine economy has”since with a stagnant economy “you cannot improve social indicators; the situation is difficult because of where we come from and what we have had to go through, but if we continue with the economic program and maintain cohesion and direction, we will reach very satisfactory results in December 2023”.

And he warned that, according to his vision, by 2023 the government will arrive with three consecutive years of GDP growth, something that, he said, had not happened since the 2006-2008 triennium, with less poverty, higher real wages and better income distribution of the population. which he received at the end of 2019.

“Today the issue is poverty and inflation, but even in terms of poverty, 37% of the fourth quarter of 2021 is not far from the 35.5% left by Macri“, he added. And he continued: “Inflation needs to be reduced, especially food inflation, but it is possible that this year poverty will be less than in December 2019 and we hope that the year will continue to fall.”

Finally, he emphatically defended the agreement with the IMF and Guzmán’s policy and said that the Unexpected Income Tax project promoted by Guzmán “is still standing”, although he clarified that when it is presented it will be a decision of the President and the Minister of Finance. Economy.

In 2022, he said, about 1.2 million jobs will be created and currently 35,000 formal jobs are being created per month. “If that process continues, it is much easier to recover wages,” she concluded.

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