The sales tax (known as IVA) is 19%, and applies to many valueadded items. While you may structure your affairs to minimize other taxes here, you won’t escape IVA.

For wage earners, the regular income tax is graduated between 0% and 40%. So, here’s a snapshot of the tax table, represented in U.S. dollars, at today’s exchange rate of 920 pesos per U.S. dollar.

These are monthly income figures (exclusive of retirement and pension income):