The individual income tax brackets and rates in Argentina for 2018 are as follows:

• up to ARS 25,754 - 5%
• over ARS 25,754 up to 51,508 - 9%
• over ARS 51,508 up to 77,262 - 12%
• over ARS 77,262 up to 103,016 - 15%
• over ARS 103,016 up to 154,524 - 19%
• over ARS 154,524 up to 206,032 - 23%
• over ARS 206,032 up to 309,048 - 27%
• over ARS 309,048 up to 412,064 - 31%
• over ARS 412,064 - 35%

The initial …