December 9, 2013
Tax reform bill passed by Lower House
With 139 votes in favor and 91 against, Lower House lawmakers passed the Income tax reform bill which will be sent next week to the Senate in order to become law.
The project follows last week’s announcement by President Cristina Fernández de Kirchner increasing the income tax floor by 20 percent. The minimum taxable income, under the proposed law, would start at 15,000 pesos for a single worker without children.
The bill approved by lawmakers modifies the Income Tax law creating a 15 percent tax over bonds and stocks buy-sell deals that are not listed in the market and setting a 10 percent levy on companies’ dividends.