The proposal for the fiscal package promoted by the government of Javier Milei indicated that the scales of the rates would be more progressive and would range between 5 and 35%. The maximum could apply starting with an annual income of $36,450,000.
He Senate rejected title 5 of the fiscal package referring to the Income Tax. In a particularly close discussion of the rule, legislators they voted against of the initiative proposed by the ruling party, which restored the fourth category and affected one million workers.
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Title 5, on changes in income taxthe result of the vote was 41 votes against and 31 in favor.
Fiscal package: the Senate rejected the Income tax
The application of the tax was planned from $1,800,000 gross for a single person without children. When the former Minister of Economy José Luis Machinea proposed the famous “tablita” which established a reduction in deductions to the extent that the person earned higher salariesthe last category started at $120,000 per year, which was then equivalent to $120,000.
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The fiscal package proposal promoted by the government of Javier Milei indicated that The scales of the aliquots would be more progressive and would move between 5 and 35%. He maximum could be applied from a annual income of $36,450,000.
In that case, an employee with a gross remuneration of $3,200,000 that does not have deductions neither for a spouse nor for children, nor for expenses such as rent or domestic service, would pay a monthly tax of $247,564.83.
With changes and the tiebreaker of Victoria Villarruel, the Senate approved the Bases law
After the Government accepts several modifications inside and outside the Congresshe Senate generally approved the Bases law with the key vote of Victoria Villarruel after a tie of 36. The head of the Upper House also defined the approval of the delegation of exceptional powers to the President. Javier Milei’s management marks important progress in his emblematic project.
Although it still remains to define the modifications that different opposition blocks will propose in the most conflictive articles. Once all the changes are incorporated, the project will be voted on again in Deputies, given that it underwent transformations of the text that they had approved in April. It is expected that legislators will accompany the Tax Reform.
