President Mauricio Macri announced on Thursday (14.2.2019) that small and medium-sized enterprises (SMEs) in regional economies will not have to pay employer contributions starting in March for employees whose salary is less than 17.500 pesos (460 dollars).
"We have decided to increase the minimum non-taxable amount on the employer's contributions of workers in regional economies," the president said.
The head of state indicated that this initiative is the first "of a productive agenda" that will be implemented throughout 2019.
SMEs have the vocation to hire more workers, to grow more, but in order to do so they face obstacles, one of the main ones being taxes on work that make hiring people very expensive., said Macri.
The decision to raise the non-taxable minimum for SMEs will benefit 19.500 companies and 200.000 workers.
The fiscal impact of this measure will be 3.000 billion pesos (79 million dollars) per year, which is already included in this year's budget.
According to the Minister of Production and Labor, Dante Sica, regional economies in Argentina encompass 44 sectors and include the production of wine, sugar, cow's milk, fish, furniture, eggs, vegetables, natural juices and rice, among others.
Social security contributions for the textile, footwear, clothing and leather goods sectors since last November correspond to wages exceeding 12.000 pesos (316 dollars), updated to the consumer price index since January of this year.
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