In April, tax collection grew 90.2% year over year, well below the inflation of the period, which was about 104%. The drought has reduced the contribution of withholding taxes to exports and the soy dollar was not enough bait to bolster the fiscal coffers.
The collection reached in April on $2,551,511.4 million, “mainly affected by the trend of taxes related to foreign trade due to the impact of the drought”, reads the statement released by the Ministry of Economy. Export duties presented a decrease of 48% compared to the same month last year.
The soybean dollar, in effect for most of April, gives to exporters a dollar to $300. Settlement through this mechanism was achieved in the month $1,614 millionFor now, a far cry from the $5 billion the industry has pledged to contribute until the end of the program, which ends on the 31st of this month.
“Excluding the aforementioned taxes, funding showed growth of 104.5% on an annual basis, while, if foreseen, this variation reaches 90.2% on an annual basis”they detailed from the Palacio de Hacienda.
For April, Economists estimate inflation above 7%, which would reach 104% year on year.
Nadin Argañaraz, director of IARAF, has estimated that the collectionn would have decreased by a real 7.8% compared to April 2022. “In the first quarter there would have been a real decline of 7.2%, after two years of starting with a real increase.”
“The collection that decreased the most, due to the drought among other factors, was that of export duties, which it would have done it at 75% real year-over-year. The VAT, hand in hand with the activity, the collection plans and the suspension of exemption certificates for some importers, would have had a real increase of 3.9%, bringing invaluable resources to the coffers of the state and the provinces. Profits would have had a real decrease of 9% and social security, due to the increase in formal employment, a real increase of 2%”, explained Argañaraz.
On the other hand, the economic group highlighted that “even the taxes with the greatest response to economic activity have contributed to explaining the variation in national revenue”. AS, the VAT contribution increased by 117.3%, while the tax on receivables and payables increased by 98.7% and co-owned interns increased by 128.0%.
Social security resources increased by 110.7%. “The high growth rates have been sustained, accentuating the expansionary trend observed in recent months. Wage improvements persist as a factor explaining this expansion“, reads the statement.
The increase in these resources responded to the growth in employer contributions (116.3%) and the increase in personal contributions (104.7%).
“Taxes that grant progressiveness to the system have overall increased by 85.8%,” they said. At this point reference is made to the personal wealth tax that has been filed an increase of 69.3%.
In addition, income tax recorded a change of 88.0%, due to the increase in the amount of taxable payments and the amount of transactions carried out and the perception applied to the purchase of currency arranged in July through RG AFIP 5232/22.
“April’s collection (net VAT +117%) shows the positive impact of recent measures, such as the improvement of the VAT compliance plan, the tax monitoring program and the changes introduced in the tax breaks for large companies,” he tweeted. the head of AFIP, Carlos Castagneto.
Furthermore, Castagneto took the opportunity to throw a stick at the farm. “Export rights were down -48% due to the impact of drought and the lack of liquidation of the agro-industrial sector, despite the benefits that have been granted to them”. Thus, the official referred to the fact that the farm clearance was small despite the soybean dollar.
AQ
Source: Clarin
