ARG GVT Income Tax Rate, Exemption

On Sep. 13, ARG GVT published tax brackets, exemption adjustments.

  • ARG GVT published Decree 473/2023 to modify Income Tax Law of 2019.
  • Document dated Sep. 13, 2023, was received on Sep. 19, 2023, due to a new feed.
  • Background
  • Article 82 of Income Tax Law of 2019 govern income from work, retirement, pensions.
  • Law No. 27,617 added special deductions and exemption from supplementary annual salary in subsection z) of article 26, for incomes not exceeding sum indicated therein.
  • This sum or amount is modified and not exceed the equivalent of fifteen (15) minimum, vital, and mobile water (SMVM) currently equivalent to $1,770,000 pesos.
  • Incomes above this threshold taxed at scale with rates ranging from 27% to 35%.
  • ARG GVT deems it necessary to expressly establish income below threshold not taxed.
  • Exempt from the second installment of the complementary annual salary 2023.
  • Also added to deduction in Sec. 2 of subsection c) of 1st paragraph of Art. 30 of Law.
  • Deduction is equal to amount from subtracting from net profit, the deductions of sections a), b) and c) of Art. 30, so the net taxable income is equal to zero.
  • Modifications Highlights
  • For second half of 2023, 15 SMVM of Oct. 1, 2023 is subsection z) amount/threshold.
  • Re 2nd installment of 2023 supplementary annual salary, said amount is to be applied.
  • Income in sections a), b) and c) of Art. 82 must be added to deduction Sec. 2 of subsection c) of 1st paragraph of Art. 30 for incomes below the threshold.
  • ARG Tax is entrusted with increasing the amounts of the progressive scale of the first paragraph of article 94 of the Income Tax Law, as of entry into force of this Decree.
  • This authority is for purposes of reducing amount of withholdings for Art. 82 income.
  • Effectiveness
  • Decree will come into force on the day following its publication in the official gazette.
  • Applicable to remunerations/salaries that accrue as of Oct. 1, 2023, with exceptions.
  • Oct. 2023 ARG Tax Salary Settlement
  • On Oct. 11, 2023, ARG Tax published a salary settlement with new progressive scale.
  • Applies to amount persons and undivided successions must pay on net taxable profits.
  • Also applicable to salaries and assets that accrue in the month of Oct. 2023.
  • On same day, ARG Tax Federal Administration of Public Revenue (AFIP) and Ministry of Commerce expanded information needed at the time of import system declaration.
  • Subjects that apply to rules in General Resolution 5429/2023 must also disclose the file number and approval number for electronic document management system (GDE).
  • National Directorate of Technical Regulations must approve dossiers in 60 days or less.
  • Oct. 2023 ARG CB Tax Opinion
  • On Oct. 17, 2023, ARG Tax issued opinion tax settlement in light of changes to tax law.
  • Provided the table that must be applied for the settlement corresponding to the income accrued in the month of Sep. 2023, paid during the month of Oct. 2023.
  • Additionally, it sets out the brackets and rates for income accrued from the month of Oct. 2023. and up to and including those received in the month of Dec. 2023.
  • It also provides definitions on the deductions entered in SIRADIG from prior months.
  • Method to determine exemption regarding productivity bonuses; use of Form 1357.
  • Also amount exempt from annual complimentary bonus (SAC) in 2023, among others.
  • Mar. 2024 ARG Tax SiRADIG Extension
  • On Mar. 26, 2024, ARG Tax reported that it is extending to Apr. 30, 2024, the deadline for workers to report to their employers annual deductions of the income tax for 2023.
  • Measure is to be made official on Mar. 27, 2024 in General Resolution No. 5494/2024.
  • Objective is to provide legal certainty re annual settlement of income tax for 2023.

Regulators ARG GVT; ARG Tax
Entity Types Corp; IA; Inv Co; Pension
Reference PR, 3/26/2024; PR, 10/17/2023;; Nt IF-2023-121933070-APN-DNI#MEC, 10/12/2023; PR, 10/11/2023; OG, 9/13/2023; Decree 473, DCTO-2023-473-APN-PTE, 9/12/2023;
Functions Compliance; Financial; Legal; Tax
Countries Argentina
Products Corporate; Fund Mgt; Pensions; Retirement Plan
Regions Am
Rule Type Final
Rule Date 9/13/2023
Effective Date 4/30/2024
Rule Id 185146
Linked to N/A
Reg. Last Update 3/26/2024
Report Section International

Last substantive update on 03/28/2024