Argentina Reduces Income Tax Rate

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By Molly Ward

May 7—Income tax for employees earning 15,000 Argentine pesos ($1,680) a month to 25,000 pesos ($2,800) was reduced by up to 32 percent, Argentina's Economy Minister Axel Kicillof said May 4.

The reduction amounts increase take home pay by 5 to 6 percent for most workers, Kicillof said.

The modification is retroactive to Jan. 1, 2015, and amounts withheld in excess are to be returned in five monthly installments, the government said May 7 in a news release.

To contact the reporter on this story: Molly Ward at

To contact the editor responsible for this story: Michael Trimarchi at

The May 4 announcement can be found in Spanish at

The May 7 announcement can be found in Spanish at

The resolution can be found in Spanish at

More information on payroll issues in Argentina can be found in the Argentina country primer.