Argentina Raises Employee Social Tax Thresholds 7%

Argentina’s maximum amount of employment income subject to social taxes paid by employees retroactively increased by 7% as of Sept. 1, as did the two minimum monthly tax bases applicable to social taxes employees are assessed, the country’s National Social Security Administration said Sept. 7.

Effective from Sept. 1, 2020, to Nov. 30, 2020, the maximum monthly amount of employment income paid to an employee on which social taxes may be assessed is 198,435.52 Argentine pesos (U.S. $2,641.82) up from 184,591.18 Argentine pesos (U.S. $2,459.66) from June 1, 2020, to Aug. 31, 2020, the administration said in Resolution 325/2020 (Spanish). ...