Through supreme decree No. 309-2023-EF, the Ministry of Economy and Finance (MEF) increased the new Tax Unit (UIT) by S/200. Thus it goes from S/4,950 to S/5,150 by 2024.
It is important to note that the ITU It is a value that is mainly used to calculate taxes, fines, as well as parameters for tax, labor and judicial issues such as subsidies from the Mivivienda Fund, sales cap to be considered a micro and small business (Mype).
What is the impact of this increase on the family economy?
According to Jorge Carrillo Acosta, professor and finance expert at Pacífico Business School, the rise in the ITU brings with it some modifications. Firstly, formal workers, who are on the payroll, will pay less income tax on their salaries. For example, for a gross monthly salary of S/3,000, the annual income tax savings will be S/112. Likewise, if it is S/10,000, the savings will be S/418.
Another key point is that the monthly gross salary limit (on the payroll) increases to avoid paying income tax, which in 2023 was S/2,475 and by 2024 it will rise to S/2,575.
A third point is that the limit of personal expenses to request a refund of labor income tax (4th and 5th category), which is 3 UIT, increases from S/14,850 to S/15. 450. Along these lines, a greater subsidy will be obtained for the Good Payer Bonus.
Less property tax and alcabala will also be paid, since the brackets and rates are based on the ITU.
However, the costs of judicial processes and other procedures before the State will increase. In addition, Carrillo warns that a reduction in tax collection could also be generated, which translates into fewer resources to be able to carry out the works and reactivate the economy.
What is the impact for freelancers?
In the case of independent workers who issue receipts for fees, the maximum monthly issuance amount to avoid paying taxes increases from S/3,609 to S/3,755.
What will be the impact for Mypes?
The sales limit to be considered as micro and small businesses (Mype) is 150 UIT, so this value rises S/742,500 to S/772,500. Likewise, for small businesses, whose maximum income rose from S/8 million 415,000 to S/8 million 755,000.
For its part, in the Mype Tax Regime, in force since 2017, the Income Tax rate is 10% for the first 15 UIT and 29.5% above this amount. Therefore, with the increase in the UIT, companies that are in this regime will save about S/585 in annual taxes.
What have been the ITU increases over the years?
For next year, the increase is 4% (S/200), which is lower than the S/350 that occurred in 2023, but equal to the increase in 2022. In 2016, 2017, 2018, 2020 and 2021, the increase was S/100, and in 2019 it was S/50.
It should be noted that the amount of the ITU is established by the MEF, and is valid from January 1 to December 31. Its calculation is based on macroeconomic elements, such as inflation.
Source: Larepublica
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