With the payment of earnings in several installments, the Government sets up an “additional” salary scale until the elections.

Almost two months have passed from the approval of the income tax amending law on April 8 until its regulations were published on May 25 and AFIP has yet to complete. type the fine print so that it can be applied.

Meanwhile, the 1.2 million people who pay the tax today were waiting for the bureaucratic procedures of the executive to be able to receive the return of privilege that the state has withheld them since January (the month from which the changes come into effect) and, moreover, has stopped paying. These are workers who earn more than $ 150,000 gross and retirees with wages equivalent to 8 minimum pensions.

The return was to be done first in May (with the April salary), then in June and finally, It will be in July and in 5 times, which will finish being disbursed in November, the same month in which the legislative elections will finally be held (the PASO will take place on September 12 and the vote on November 14).

Last week, the government said the repayment would be made in five installments. The ad was included in the help package that the government designed for this second wave, and which includes the strengthening of REPRO II and the extension of the Alimentar card, among other measures. As detailed, the whole of this package will ask for 480,000 million dollars.

From now on, with this scheme, employees will receive the bonus with the June salary and from July the five repayment installments, which will increase the pocket salary and, according to official calculations, give an additional boost to consumption.

When the project promoted by the President of the Chamber of Deputies, Sergio Massa, was announced, the benefit was expected with April wages.

What happened in between?

One of the reasons that delayed the implementation of the new law was the tax cost. In order to take care of the weights In a scenario complicated by the pandemic and the expenses generated by the second wave and the larger restrictions ($ 15,000 bonus to AUH in the AMBA, increase in the Alimentar card, extension of Repro II), the Minister Martín Guzmán sought not to be unattended before the inevitable fall that will occur in the collection.

Meanwhile, MPs approved evolution of corporate profits (which will compensate for the fall in income) and on the other hand, the Treasury has refinanced the debt in pesos (although sometimes not in the requested volume). The new tax-free minimum in income will make that the Treasury cease to receive this year an income of 45,000 million dollars.

“The purchasing power of pesos from January to May is not the same as that which will be returned from July. It’s like ice cream melting in your hand“Tax expert Cesar Litvin told TN.

On the other hand, the positive tax impact of the new rates for companies will be $ 320,000 million, according to a report by the Congressional Budget Office.

Thus, on the one hand, Guzmán has managed to advance the application of the changes and, in addition, the workers will have a chain of “additional” income (from June with the half-bonus) which will last until election month.

Push consumption

The government is betting that these “bonuses” be returned to consumption, This would bring more money to the treasury and ease the pockets of the more elusive middle class for the Frente de Todos.

The official fear is that the repayment of profits will turn to the blue dollar, which would generate greater demand and could lead to another leap in the exchange rate differential.

Until now the blue dollar is in a hurry. Last week it closed at $ 153, the lowest price for those who want to buy tickets.

BORN

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