Argentina Massa seeks to lower income tax floor

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(The Buenos Aires Times)

The government stands to lose some 40,000 billion pesos in revenue from these changes but hopes to recover much of this from the beneficiaries spending this extra money on items subject to IVA value-added taxation and other levies.

At the start of the week Lower House Speaker Sergio Massa submitted a bill raising the income tax floor to 150,000 pesos for salaries and 152,282 (or the equivalent of eight minimum pensions) for workers and pensioners respectively (gross earnings in both cases), thus offering tax relief to some 1.267 million people.

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