The Argentine government announced changes to the income taxes. According to the new amendments exemptions from taxes will be offered and the level of non-taxable income for higher earners will be raised.
According to Decree 1242/2013, workers with a gross salary of less than $15,000 (per month) will benefit from special deductions from 1 September 2013.
These non-taxable threshold rates will increase by 20% (to $10.032 and $13,875, respectively) for workers with a gross salary between $15,000 and $25,000. For employees in Patagonia, the increase will be even higher (30%).
The government has also announced that the scope of family allowances will be increased. The wage threshold to qualify for payments – ranging from $110 to $460 – will increase by almost 80% from $8,400 to $15,000 for individuals and from $16,800 to $30,000 for a family.
