Income tax: increase of the maximum deductible amounts for investments in mutual investment funds for retirement purposes, life and mixed insurances and contributions to private retirement insurance plans.
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Tax Department Report | Income tax: increase of the maximum deductible amounts for investments in mutual investment funds for retirement purposes, life and mixed insurances and contributions to private retirement insurance plans
Dear Sir or Madam,
Through Decree N°59/2019 (published in the Official Gazette on January 21st, 2019), the maximum amounts for deductions set forth in Income Tax Law, Section 81, Subsection b (investments in mutual investment funds for retirement purposes and life and mixed insurances) and j (contributions to private retirement insurance plans) were increased as follows:
• Fiscal year 2019: AR$12,000.-
• Fiscal year 2020: AR$18,000.-
• Fiscal year 2021: AR$24,000.- (this amount would be adjusted according to the provisions of the law to be enacted pursuant to 303 of Law No. 27,430).
Regarding fiscal year 2018, the maximum deductible amount remains in AR$ 996,23.
Link the Decree No. 59/2019.
Should you require any further information on this matter, please do not hesitate to contact us.
Sincerely.
Santiago L. Montezanti
