La Reforma, far from respecting the venerable postulate "to pay more than those with more and pay less with less", set up a tax system under which, paradoxically, actually end up paying more with less.
The new law, in theory, seeks to provide "tax justice" but, in practice and contrary to popular belief, is more severe with employees, small investors and professionals and less strict with the most powerful sectors purchasing, to whom he leaves leeway to neutralize, and in some cases override, the new taxes.
workers, savers and professionals are subject to a relentless regime of withholding and deductions and have no financial capacity to, inter alia, amend the structure of income and thereby try to reduce the costly effects of the Reformation. The most wealthy, by contrast, can be exploited by way of example, that the regime applied to foreign income, transfer income across borders and to minimize or even nullify, the negative impact of new taxes.
Reform increased the tax burden on middle and lower classes of society, including implementing strong labor charges and rental income which were previously 100% tax free. But, however, reduced 5 points of the tax rate that corporations pay on their income and provided for a gradual reduction of estate tax, thereby relieving more than 100 million dollars a year the situation of the most creditworthy.
Reform weight rests substantially on the work and, consequently, on the effort, with minimal doses of new taxes that affect capital gains. While almost 92% of total revenue from the new tax on income of individuals will fall on wages, pensions and income of professionals, only 8% will affect the profits generated by the assets or wealth.
The inequity of the system is even more serious if one considers that 6% of that 8% for taxes on capital is produced by the tax on rents and, therefore, also end up paying workers and lower income. And this move because the owners financially this tax to their tenants included in the price of the lease.
wage, the result of work effort is not only the reform treaty as unequal to the capital but now also is doubly punished by taxes.
Under the previous regime taxes are paid, essentially, when you buy or consume, through the VAT, which taxes 'hidden' and can hardly be felt. Now, the effect of the new system, the scourge tax duplicates and taxes also are paid at the time to collect the revenue, receive salaries, and even up when receives a modest pension for permanent disability.
The new law, in theory, seeks to provide "tax justice" but, in practice and contrary to popular belief, is more severe with employees, small investors and professionals and less strict with the most powerful sectors purchasing, to whom he leaves leeway to neutralize, and in some cases override, the new taxes.
workers, savers and professionals are subject to a relentless regime of withholding and deductions and have no financial capacity to, inter alia, amend the structure of income and thereby try to reduce the costly effects of the Reformation. The most wealthy, by contrast, can be exploited by way of example, that the regime applied to foreign income, transfer income across borders and to minimize or even nullify, the negative impact of new taxes.
Reform increased the tax burden on middle and lower classes of society, including implementing strong labor charges and rental income which were previously 100% tax free. But, however, reduced 5 points of the tax rate that corporations pay on their income and provided for a gradual reduction of estate tax, thereby relieving more than 100 million dollars a year the situation of the most creditworthy.
Reform weight rests substantially on the work and, consequently, on the effort, with minimal doses of new taxes that affect capital gains. While almost 92% of total revenue from the new tax on income of individuals will fall on wages, pensions and income of professionals, only 8% will affect the profits generated by the assets or wealth.
The inequity of the system is even more serious if one considers that 6% of that 8% for taxes on capital is produced by the tax on rents and, therefore, also end up paying workers and lower income. And this move because the owners financially this tax to their tenants included in the price of the lease.
wage, the result of work effort is not only the reform treaty as unequal to the capital but now also is doubly punished by taxes.
Under the previous regime taxes are paid, essentially, when you buy or consume, through the VAT, which taxes 'hidden' and can hardly be felt. Now, the effect of the new system, the scourge tax duplicates and taxes also are paid at the time to collect the revenue, receive salaries, and even up when receives a modest pension for permanent disability.
__________________ Dr. Miguel Angel Gallegos
Beverly Hills
Punta del Este Uruguay
Tel: (598) (42) 49 61 78
Cel: (598) (99) 26 93 98
E-mail: mykaelg@gmail.com
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