The tax floor of 30,000 is applicable to families with two children, with singles facing lower thresholds on income tax. Following claims by opposition leaders, tax experts have said the tax brackets have to be updated in order for the tax to make sense. ‘Only next year’ Saturday, July 30, 2016 Cabinet chief says income tax changes will have to waitThe increase in the income tax floor will not be followed this year by a push to modify the tax brackets, which have not been updated since 2000, Cabinet Chief Marcos Peña said yesterday, noting the change would only be implemented in 2017 following a debate in Congress. As such, singles without children will start paying income tax from 22,656 pesos onward. “The government made a big effort on income tax this year and those who paid a lot are now paying much less.

Source: Bueno Aires Herald July 30, 2016 02:15 UTC