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Argentina Increases Income Tax Exemption Threshold for Individuals — Orbitax Tax News & Alerts

Argentina has published Decree 620/2021 of 16 September 2021, which provides for a further increase in the tax exemption on monthly salary. As per Law 27617, which entered into force on 21 April 2021 and applies retroactively from 1 January 2021, provisions were introduced for additional allowances/deduction that essentially provides an exemption from tax where monthly income does not exceed ARS 150,000. Decree 620/2021 provides further amendments to increase this tax exemption threshold to ARS 175,000 per month with retroactive effect from 1 September 2021.