AFIP formalized income tax changes

General Resolution 5008/2021, published on Tuesday in the Official Journal, regulated income tax changes that were approved by the National Congress in early April.

In this regard, it was specified that the process “corresponding to the 2020 financial year, may be carried out – exceptionally – until July 31, 2021 inclusive”.

With the signature of the head of the Federal Public Revenue Administration (AFIP), Mercedes Marcó del Pont, it was established that, “in order to determine the limit amounts provided for the application of income exemptions”, it will be necessary to “Consider the average amount of remuneration and / or gross monthly income corresponding to the annual fiscal year”.

“In the months in which the salary and / or gross assets for the month being paid or the average salary and / or gross monthly assets for that month – whichever is less – exceeds the sum of 150 $ 000 and is less than or equal to $ 173,000, the withholding officers will calculate, in the month in which it is settled, a special deduction increased according to the bracket in which the target remuneration is located and / or having monthly or average gross ” in the new tax table, which was published as an annex to the main standard.

The new tax table

The regulation also introduced the increased special deduction so that the tax only covers pensions that exceed eight active minimum, provided “that they have not obtained during the fiscal year which is liquidated income other than those provided for therein greater than the non-taxable profit”.

“This deduction will also not apply to those who are obliged to pay property tax on natural persons, provided that this obligation does not arise exclusively from the possession of real estate for a single dwelling,” said it was clarified.

The regulation states that the withholding officers, “for the purposes of determining the amount to be withheld for income tax in respect of remuneration and / or assets corresponding to the month running in June 2021 and following, must use the procedure and the amounts of the personal deductions recorded in the cumulative monthly tables available in the microsite “Personal profits and assets” of the institutional “website” (https://www.afip.gob.ar) “.

Following this information, “They must generate an additional regulation in order to determine the differences which, by application of the deductions and exemptions instituted by the law n ° 27.617, could be generated in favor of the subjects subject to the withholding.

Regarding this last point, the aforementioned general resolution confirmed that the money which has been withheld from workers who are no longer affected by income tax as of this year, “will be refunded in five equal, monthly and consecutive installments. . during the months of July, August, September, October and November 2021 ″.

On the contrary, “when the retainer obtains an amount in his favor as a result of the sums which are reimbursed to him”, the balances “generated over the years from July to November 2021 can be used”, for example, “to cancel tax obligations “. or – exceptionally – “may apply to withholding taxes and / or to the collection of Value Added Tax.

Among the changes that have been included in the project is exclusion from the calculation of the tax on Christmas bonuses of those who benefit from this measure. In addition, Retirees who receive up to eight minimum pensions will be allowed to access the benefit even if they have additional income of up to $ 164,000 per year.

On the other hand, the changes will also affect the current legislation on couples in cohabitation. Until today, the law allows the spouse to deduct. However, The new proposal envisages extending this right to de facto spouse, regardless of sex. The ruling party clarified that this point had been developed with a strong impact on the gender perspective.

In addition, an article has been incorporated which maintains the profit of the “22% extra” in the Patagonia region but with a lower tax burden than that of the rest of the taxpayers, which “will benefit approximately 83,500 employees and retirees”.

On the other hand, it was excluded from the payment of childcare reimbursement for sons and daughters up to 3 years old, with an amount of up to $ 67,000 per year.

The tax was also excluded from the supply of work clothes, equipment for exclusive use in the workplace and granting or payment for training courses. Article 111 establishes that money received for fuel vouchers, accommodation, leisure or rest travel, payment of family group education expenses or other similar concepts are covered by the income tax. Income.

I also know double the deduction paid for a disabled child. Currently, this amount is $ 78,833 per year and at the express request of union representatives, this amount will be doubled for each disabled son, daughter, son-in-law or daughter-in-law.

Finally, the exemption that expired in December was extended until September 20 so that health workers do not pay income tax for overtime that he is performing due to the coronavirus pandemic and which was approved by Congress in May of last year.