Argentina Government will Give Workers Tax Relief from November

Argentina Government will Give Workers Tax Relief from November. Due to the high inflation rate in the country, Argentina’s Economy Minister Sergio Massa said on Sunday the government will give workers tax relief from November. This relief will be in the shape of increasing the threshold of taxable income at which income tax will be charged.

New threshold for tax chargeability

“It will take effect from Nov. 1, it will be above 330,000 pesos ($2,176),” Massa said in an interview, referring to monthly income. This step will help to eliminate inflation in the country.

Inflation in Argentina

Annual Inflation in Argentine hit 83% in September. It is expected that it will climb as high as 100% by the end of the year.

Massa, saying “inflation is the worst punishment that any worker, any retiree in Argentina can have.”