The Government informed the new scales for the Monotax that will be in force as from January 1, 2023. The adjustment was 33.58%, which leads to the category A at a maximum gross annual turnover value of 999,657, while category B will have an annual income ceiling of $1,485,976 pesos as from January. On the other hand, category K, the top of the scale, will have an income ceiling of $8,040,721 per year.
– Taxpayers will have time until January 20 to recategorize.
– Those single taxpayers who maintain the same category will not be required to take any action. On the other hand, if less than 6 months have elapsed since the registration with the single taxpayer, it is not necessary to recategorize.
– The single tax credit will be maintained for the lowest categories with no extra income.
CAP DETAIL FOR EACH CATEGORY:
Category A: from the current $ 748,382 to $ 999,657 per year or $ 83,305 per month .
Category B: from the current $ 1,112,459 to $ 1,485,976 per year or $ 123,831 per month.
Category C: from the current $ 1,557,443 to $ 2,080,367 per year or $ 173,363 per month.
Category D: from the current $ 1,934,273.04 to $ 2,583,720 per year or $ 215,310 per month.
Category E: from the current $ 2,277,684 to $ 3,042,435 per year or $ 253,536 per month.
Category F: from the current $ 2,847,105 to $ 3,803,043 per year or $ 316,920 per month.
Category G: from the current $ 3,416,526 to $ 4,563,652 per year or $ 380,304 per month.
Category H: from the current $ 4,229,985 to $ 5,650,236 per year or $ 470,853 per month.
Category I: from the current $ 4,734,330 to $ 6,323,918 per year or $ 526,993 per month.
Category J: from the current $ 5,425,770 to $ 7,247,514 per year or $ 603,959 per month.
Category K: from the current $ 6,019,594 to $ 8,040,721 per year or $ 670,060 per month.
The head of AFIP, Carlos CastagnetoThe update of gross income tax values has a progressive character since lower income categories will be able to bill 100% more than a year agoThis increase is above the increase in prices during the same period.
For any questions related to the new parameters applied to the Monotributo 2023, please contact:
Maria Jose Ermocida
Tax Manager
mariajose.ermocida@ar.andersen.com