It seems with the recent Ley Bases amendments to the monotributo and Bienes Personales tax regimes, it is possible to live an affordable life in Argentina without being taxed into an early grave.
Q1. As I understand it,as of 1 August 2024, even at the maximum category K of the monotributo system, one pays (at best, i.e. when maximising income to 68M) just 13% income tax for service industry work (735.000 * 12 installments = 8.820.000 on an income up to 68.000.000). Add obra social at 47.000 * 12 = 564.000 in the year, pension 85.000 * 12 = 540.000.
To me this seems reasonable by global standards, given Argentina's horrific income tax reputation in recent years...
Am I misinterpreting this, are there other figures involved? What have I missed?
Q2. Are there any obvious exclusions to the monotributario system that would exclude someone who is a freelance IT professional?
Q3. Does anyone know if it is possible to engage in production of both physical goods AND services under this regime?
Please could only those who are self-employed and operate as a monotributario reply, or those with professional tax experience -- thanks.
Q1. As I understand it,as of 1 August 2024, even at the maximum category K of the monotributo system, one pays (at best, i.e. when maximising income to 68M) just 13% income tax for service industry work (735.000 * 12 installments = 8.820.000 on an income up to 68.000.000). Add obra social at 47.000 * 12 = 564.000 in the year, pension 85.000 * 12 = 540.000.
To me this seems reasonable by global standards, given Argentina's horrific income tax reputation in recent years...
Am I misinterpreting this, are there other figures involved? What have I missed?
Q2. Are there any obvious exclusions to the monotributario system that would exclude someone who is a freelance IT professional?
Q3. Does anyone know if it is possible to engage in production of both physical goods AND services under this regime?
Please could only those who are self-employed and operate as a monotributario reply, or those with professional tax experience -- thanks.