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INCOME TAX. Its modification was promulgated, a new Cedular Tax is incorporated

The National Executive Branch promulgated, through Decree 508/2023, Law 27,725, which introduces important modifications related to Personal Work Income Tax in Employees, Retirees, Pensioners and others.

In this way, the so-called Fourth Category sees the way in which income from personal work will be treated modified.

Firstly, the norm presents a series of modifications to the legal text based on the adaptation to the existence of the new Cedular Tax.

Secondly, a new Chapter called “Cedular Tax on the highest income from work in a dependency relationship, retirements and privilege pensions and others” is incorporated into the Income Tax Law, which will be applicable to those who obtain remunerations that exceed 180 Minimum, Vital and Mobile Wages (SMVM) annually. It should be noted that the determination of the Tax will maintain its settlement scheme in force before the promulgation of the rule for those who are not covered.

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