LatinNews Daily - 30 May 2022

*Argentina’s government led by President Alberto Fernández has announced it will raise the lower limit at which workers must pay income tax as of June. The measure, which raises the minimum salary from which income tax is paid from Ar$225,000 (US$1,814) a month to Ar$280,792, will mean 1.2m workers will be exempted from paying the tax, according to an economy ministry statement. In addition, those who earn between Ar$280,792 and Ar$324,182 will see their tax reduced. “Our government is a government that carries out policies to defend the interests of workers, while during the four years that preceded us [under former president Mauricio Macri (2015-2019)] there was a fall in production, a fall in employment, a fall in real wages,” said Economy Minister Martín Guzmán at a press conference, adding that, “today we are seeing a growth in production, employment, and an improvement in the purchasing power of wages.” The Fernández administration is currently battling to rein in inflation and protect poor and vulnerable sectors of society from its effects, implementing other measures such as bringing forward minimum wage increases and announcing bonus payments for informal workers.