Tax collection totaled 2.1 trillion pesos in February, a figure that implies an 82.3 percent increase over the same month last year, driven by taxes associated with the domestic market and employment, according to the Federal Public Revenue Administration (AFIP).
According to calculations by the economist of the Ledesma consultancy, Gabriel Caamaño, the 82.3% increase would mean an increase 9% less than the rate of increase in prices in the economy.
The data was known when the Ministry of Economy and the IMF negotiated a more flexible program between the country and the organization.
Most of the taxes that presented year-on-year variations above the average, reflecting the acceleration of inflation and the consequent impact on domestic prices: VAT (106.1%), those of the social security system (103.2%), checks taxes (101.1%), country (95.1%), personal assets (94.5%) and earnings (91.4%).
Below this average are the import duties and the statistical tax (47.9%), fuel (37.5%) and export duties (-55.9%). All of these taxes reflect the decline due to drought and import barriers.
“Collection in February would have grown by 109% compared to the same month in 2022”, affirmed the AFIP if it had not mediated the decrease in the revenue from export and import duties and the statistical rate, which is the component Customs VAT and profits received from imports.
Export duties were reduced by 55.9% compared to February 2022 due to lower volumes recorded in the Overseas Affidavit Declarations of Sale (DJVE) corresponding mainly to wheat and soy products, due to the drought and the completion of the Increase in Export Program -or soy dollar- which generated an advance on exports which are usually liquidated in these months.
VAT grew by 106.1% in February compared to the same month last year, an increase which was positively affected by the VAT component, which increased even more, by 138%. The increase was essentially explained by the increase in inflation as the activity is in a period of contraction.
The check tax also grew above average (101.1%).
“Both taxes allow us to predict that the level of activity in the economy remains relatively high,” the AFIP said.
Grouped by source of collection, tax resources recorded the main variation in February with an increase of 111.5%, followed by social security resources (103.2%) and, to a lesser extent, customs, with a variation of 7.2%. % every year .
Accumulated annual collection behavior reflects that, in February, tax revenues of $4.4 trillion were recorded, an 87.8% year-over-year change.
Source: Clarin
