Argentina Raises Employee Social Tax Thresholds by 9.38%

Argentina’s maximum amount of employment income subject to social taxes paid by employees retroactively increased by 9.38% as of March 1, as did the two minimum monthly tax bases applicable to social taxes employees are assessed, the country’s National Social Security Administration said March 18.

Effective from March 1 to May 31, the maximum monthly amount of employment income paid to an employee on which social taxes may be assessed is 173,945.70 Argentine pesos (U.S. $2,731.36), up from 159,028.80 Argentine pesos (U.S. $2,497.13) from Dec. 1, 2019, to Feb. 29, 2020, the administration said in Resolution 76/2020 (Spanish).

If an ...