The national collection reached 2,127,181 million dollars in September, an increase of 117.9% compared to the same month last year, driven by a rise in foreign trade taxes following the higher liquidation of exports due to the “soybean dollar “and taxes related to the domestic marketaccording to the Ministry of Economy and AFIP.
Inflation was 78.5% yoy in August and consultants estimate a change up to 85% in September, hence fiscal resources have risen well above prices. September thus marked a positive change compared to August, the first month in which treasury revenues showed a decline in real terms compared to the same period of 2020.
“The collection of taxes accumulated in the first nine months of 2022 amounts to 13.76 trillion dollars, with a variation on an annual basis of 77.0%, which allows to keep the tax revenues above the general variation of the prices accumulated in the third quarter “, he pointed out outside the AFIP.
According to the collection body, the most relevant taxes that contributed resources to the state were export rights, PAIS Taxes, Profits and Credits and Current Account Payables.
foreign trade taxes increased significantly, mainly due to export duties (489%) Due to liquidation of exports of the soybean complex carried out in September, encouraged by the benefit of a dollar to $ 200 for exporters, which meant a 103% year-over-year exchange rate increase for the industry.
The additional income compared to that obtained a year ago reached 360,000 million dollars and contributed almost a third to the growth of the collection, the largest additional contribution, above VAT and profits.
“Excluding export duties, September tax collection increased 87.6 percent year-on-year, a larger change in inflation for the period,” AFIP said.
In turn, the import duties and the statistical rate recorded a increase of 71.3%.
Another item that grew the most was the PAIS tax, required for purchases of bills of exchange and foreign currency. For this concept, 44,009 million dollars were raised, with a variation from year to year 358.4%, due to the increase in the exchange rate and higher demand compared to the previous year.
As for the taxes that give “progressivity” to the system, they increased overall by 104.9%. In particular, personal income tax increased by 110.0%, while personal income tax increased by 47.2%, below inflation.
Taxes with a higher response to economic activity also helped explain the rise in tax collection. Within this group, the VAT (84.9%), the tax on credits and debts (90.1%), the internal sharing (70.4%) and the tax on liquid fuels stand out (9, 0%).
Regarding social security resources (81.7%), the authorities ensured that the “high growth rates” were sustained, accentuating the expansionary trend observed in recent months due to wage improvements and employment growth. registered.
The increase in these resources responds to the growth in employer contributions (83.9%) and the increase in personal contributions (79.3%). However, both taxes could have remained below the price evolution.
Source: Clarin
