The withdrawal of the tax package of the Omnibus Law and the Profits project – which also contains the changes to the monotax – leaves, in the short term, winners and losers from a fiscal point of viewwithout considering political and economic issues.
According to the latest released version of the majority opinion, domestic tax reforms, the repeal of the real estate transfer tax and the rules on fiscal transparency are maintained so that VAT and domestic indirect taxes are discriminated against in purchases, in places and services contracted by final consumers and other subjects.
We will have to wait to see whether agreements will be reached to implement the rest of the package in whole or in part and with what changes.
Meanwhile, if the complete earnings project which also contains the monotax reform is withdrawn:
Some of the winners:
- To the employees who continue the treatment of scheduled tax on high incomes.
- THE manufacturers and producers of goods to which export duties would have been applied or to increase them if already applied.
- THE monotributistas which did not benefit from increases in parameters each category but they still had to pay a higher rate than the current situation.
- THE tax-compliant taxpayers on personal assets for the 2020-2022 tax periods that would have benefited from a reduction in the rate: the 1.25% band has gone to 1% and the 1.5% band has gone to 1, 25%.
Some of the losers:
- THE employees in a dependent relationship which I am excluded from the scheduled tax on high incomes (for example, magistrates of the Judiciary, administrators of SA, managers of LLCs, administrators of civil associations, mutuals, among others) and who now have to pay taxes without “minimum income tax” but with the normal personal deductions of the Law .
- All human persons and undivided property, taxpayers of income tax, as the income tax reform project provided for an increase in personal deductions and tax rate sections as well as the quarterly adjustment due to the change in the CPI prepared by the INDEC. This does not apply to income included in the scheduled high income tax.
- All human persons and undivided successions, Irpef taxpayers because the increases in the tariff sections provided for by Legislative Decree 415/2023 are not ratified by the Law, nor is the salary treatment scheme for October, November and December 2023 envisaged by Legislative Decree 473/2023. This implies, for example, that employees could have income tax liabilities because the law has not been changed and the decrees would be unconstitutional.
- THE single-tax payers excluded from the regime for exceeding the parameters and do not benefit from the increase established in the bill.
- Taxpayers in general, especially SMEs, will not be able to count on a regime of regularization of their tax and customs debts in larger amounts and with the remission of interest, penalties, extinction of criminal actions, among other benefits. If they are unable to pay or include the debt in an overall payment plan, they may be subject to entering into a tax foreclosure process resulting in increased fees and interest costs. Added to this is that as of 02/01/2024 the compensatory interest rates have been increased to 15.27% and the punitive interest rates to almost 17.62%.
- Personal property taxpayers, generally, would have their tax burden eliminated or reduced by applying a nontaxable homestead minimum of $350 million and a general nontaxable minimum of $100 million. of dollars.
- Personal property taxpayers who had assets abroad as of 12/31/2023 will have to pay tax on them at an increased rate when the omnibus law has eliminated discrimination and treated everyone equally regardless of their location.
- Property taxpayers who wanted to opt for the special regime and pay the tax at the rate of 0.70% (x5) to avoid the tax until 2027 and obtain a stability tax benefit until 2038, as well as those responsible substitutes who are entitled to 0.50 The percentage rate would have been applied in the same terms mentioned.
- THE taxpayers who intended to engage in money laundering activities outsource undeclared assets. Up to 100,000 US dollars They could settle at no cost.
- Small taxpayers who would stop suffering national tax withholdings when operations did not exceed 30,000 units of purchase value per month.
SN
Source: Clarin