Earnings: due to inflation and the “Moyano effect”, Massa faces demands from banks and metallurgists

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The speech occurred before the end of the year. It was a private meeting in which Sergio Massa and Sergio Palazzo reviewed an extensive programme, according to sources on both sides. In the midst of the Economy Minister’s efforts to promote a parity scheme of around 60% in 2023 and with review clauses, the banking leader took the opportunity to bring him several orders to reach a income tax benefitsas obtained from Truckers.

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Palazzo presented them with his bill for them to stay workers earning less than $641,070 are exempt from paying the tax as well as retirees and retirees. You he reiterated a claim that had already been made in October, when he asked that salary increases be accompanied by an increase in the threshold that the Executive updates with a decree. And he asked for a refund of the tax discount on the Christmas bonus.

Massa previously announced in early December that starting January, the minimum wage from which earners are paid will be $404,062 gross ($330,000 net), bringing “tax breaks” to more than 300,000 workers. But the increases negotiated in parity since the advance of inflation and the “Moyano” factor have renewed the demands update the tax system, especially in businesses with higher wages.

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The AFIP regulated this Monday specific performances for the truck drivers union, increasing the deductions for “mobility, travel expenses and other similar compensation”. These are changes that were envisaged by the 2023 Budget Law. Now even Pablo Moyano is asking for the return of the discounts in Earnings for the Christmas bonus. “We want the same thing as Moyano,” they admit near Palazzo.

After earning a 94.1 percent pay raise in December, the starting salary for bank staff will rise to $230,725 in January, along with a profit share of $6,689. The union also secured $185,000 for Banking Day and is now negotiating a bridging amount through March. If we add to this that the majority of employees occupy higher categories and enjoy other benefits, 80% would also be achieved this year by profits.

“The Earnings floor is old because the update that has been done is due to the change in RIPTE (average recorded wage) of October 2022 compared to 2021, it was updated to 78.74% when the CPI change was 88.04%, it lost 10% and the 2022 inflation was also 94.8%, with which it is reasonable that the adjustment equals at least the CPI, i.e. the amount is quite far from what it should be,” said tax official Sebastián Domínguez.

Steel industry

The unrest was felt most strongly in the steel industry, where the Villa Constitución branch of the UOM began holding assemblies this Thursday with plant closures in Acindar, requesting an exemption from paying profits or compensation from the company. While there have been negotiations, the measures will continue this Friday and Monday in the steelmaker, which could affect the construction and auto industries.

The union had managed last year to exclude overtime from paying the tax, a regime that has not been renewed this year. Following the maintenance of the duties, the company would start importing steel bars which it produces from crude steel. Last Friday there were measures of force at the Aluar plant for similar reasons. And the Uom are considering sending a note to Massa, following the scheme that Aceiteros has.

“If you’re below the floor, the concept doesn’t matter, salary, overtime, additional hours. This plan has already expired and will only be adjusted again from January 2024reason why the law should be reformed and adjusted on a quarterly basis and for the variation of the CPI, not of the RIPTE, which has nothing to do with a parameter for taxing IRPEF, because that is a variation of wages” Dominguez said .


Source: Clarin

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