The former Minister of Economy and former presidential candidate for Unión por la Patria, Sergio Massa, questioned the Government for its intention to modify the Income Tax floorwhich would cause some 800,000 workers to pay it again.
“While they take 0.76 points of the GDP to the National Treasury by increasing the PAIS Tax and transferring the cost to prices, they take from the people the VAT refund, 0.25 of the GDP,” said the leader of the Frente Renovador.
In a statement, the former Minister of Economy also pointed out that “while the super harvest, devaluation and increase in withholdings to the Treasury are taking 1.3 of the GDP, they return 0.23 of the GDP to the richest in the country in personal assets. While they give away 1.4 of the GDP in taxes to those who evaded, they restore profits to give alms to the governors (0.17 of the GDP), thus harming 823,000 workers.
“Salary is not Profit,” said former Minister Massa
Massa affirmed that the Government’s position constitutes “rarities of freedom” and concluded: “salary is not Profit.”
The Executive Branch anticipated that it will send Congress a bill to establish a minimum non-taxable profit of $1,350,000. Currently, only those who receive gross salaries of more than $1,980,000 pay this tax.
When President Javier Milei was a deputy, he voted in favor of repealing the fourth category of Profits, but now he decided to reverse that measure as one of the measures to take in search of fiscal balance. If the official project is approved, the Government would substantially increase revenue, since the repeal of the fourth category implied a loss of $1 billion in fiscal resources.
Fuente: Argentine News