Last Thursday, the Committee of Experts that advises the Government to determine the increase in the Minimum Interprofessional Wage (SMI), proposed an increase of 3.4% or 4.4% for 2025, which would imply a maximum increase of 50 euros monthly. Said more clearly, the minimum wage would be in the 1,172.5 euros per month in 14 paymentsif the minimum increase of 3.4% is applied, or 1,184 euros per month, if the 4.4% increase is chosen (currently, the SMI is 1,134 euros per month).
However, following the proposal of the Committee of Experts, doubts have arisen about whether the Ministry of Finance will adjust the income tax brackets in accordance with the new increase or if, on the contrary, it will keep them unchanged.
In recent years, Whenever the Ministry of Labor agreed to an increase in the SMI, the Treasury adjusted the personal income tax to raise the exempt minimum from which taxes are paid. Without going any further, last year, the department directed by María Jesús Montero increased the exempt minimum from 15,000 euros to 15,876 euros.
They will wait to know the rise
But on this occasion, the Treasury’s response is not so clear. In fact, most of the national media have already stated that Treasury may not make this adjustment. As advanced The Country This morning, the Ministry is still studying the issue and has not made a decision.
On the other hand, the news agency Europa Press He later reported that, according to his sources, the Treasury will wait to know the exact increase in the SMI before officially ruling on the matter.
How would it affect taxpayers who collect the SMI?
It all depends on the final SMI figure. As explained above, there are two possible scenarios: that the increase is 3.4%, placing the SMI at 1,172.5 euros per monthor that the increase reaches the 4.4%, leaving the minimum income at 1,184 euros per month.
In both cases, according to the calculations of the Registry of Tax Advisory Economists (REAF), the beneficiaries will pay 42% of the increase in the form of withholdings, a considerably high figure that is explained by the complex design of the tax and the impact of the rates. marginal.
This means that, if the first option of increase in the SMI, an additional 233.2 euros would be paid to the Treasurywhile, in the case of the second option, the amount would rise to 300 euros.