The Argentine Senate approved raising the tax income threshold Thursday night by a tally of 37 votes in favor and 29 against. This raise had already been approved last week in the Lower Chamber following a broad agreement between UxP and almost all parties. This resolution means that the fourth bracket of those who used to pay income tax, meaning people who earn the equivalent of 15 monthly minimum wages (currently AR$1,770,000, US$2,548.2 at the MEP rate, or US$5,093.5 at the official rate), are exempt from the tax. The Argentine government had raised the income tax threshold by decree two weeks ago, a decision Economy Minister and Unión por la Patria (UxP) presidential candidate Sergio Massa had announced days before. Rental Law reformThe Senate also approved the Rental Law reform, but introduced changes that will now have to be passed by the Lower House.

Source: Bueno Aires Herald September 29, 2023 15:38 UTC