It’s not all bad news on the January slope, this month too you can receive extra money that will be reflected in your payroll receiptso it is important to keep an eye on it.
Remember that, Due to high inflation, the rates used to calculate the payment of Income Tax (ISR) for employees were adjusted.
The above means, for most workersespecially those with less income who do not receive a subsidy, who will have a balance in favor from the ISR.
That is in this fortnight you will pay less taxes than what your employer withheld from you a year ago.
For example, those who receive a salary of between 7 and 8 thousand pesos per month will pay less ISR and will receive an extra, as a result of the inflation adjustment of the range of the calculated tax percentage that they must pay, since it fell from 6.4% in force until 2022 to 1.92% in 2023.
Even there will be cases in which the highest income earners will also winwho are the ones who pay the highest ISR rate, which is 35 percent.
On December 27, 2022, the Tax Administration Service (SAT) announced the update of the rates that are used to calculate the ISR that employers must withhold from their wages to workers.
He published the table with the new rates that by law must be updated every year, especially when the effect of inflation is present in order to shield the income of workers from the rise in consumer prices.
This measure is not new, it dates from the tax reform of 2014, through which it was established that in the event that accumulated inflation exceeds 10% since the last review of the rates, these must be updated again for the period from the month when it was done last time.
For the 2022 financial year there was no change, but for 2023 if they were updated given that inflation exceeded 10% cumulatively.
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