Argentina Increases Special Tax Allowance for Employees

The Argentine tax authority (AFIP) has announced an increase in the special tax allowance/deduction for employees, effectively increasing the tax exemption on monthly salary. The increase is provided by Decree No. 267/2023 and regulated by General Resolution No. 5358/2023, which were published in the Official Gazette on 11 May and 15 May 2023, respectively.

As per Law 27617, which entered into force on 21 April 2021 and applied retroactively from 1 January 2021, provisions were introduced…