Taxation on individuals

  1. A new 40% rate bracket is created which will tax income exceeding the following amounts:
    • Labor Income Tax, monthly income over 310 UTM (approx. USD $20,700).
    • Personal Income Tax, annual income over 310 UTA (approx. USD $247,400).
  2. In the case of the Personal Income Tax, a credit of 5% is granted on that part of the affected profit withdrawals or dividends that exceed the sum of 310 UTA (approx. USD $247,400). By this way, the maximum tax burden remains at 44.45%.