Tax collections in 2023 grew 115%, well below annual inflation

Tax collection has been achieved throughout 2023 $42,981,822 million ($43 billion), with an interannual variation of 115.1%. Therefore, income moved well below period inflation estimated at between 210 and 220%.

Revenues achieved in December $5,922,687 million, with an interannual variation of 156.7%.

In the last year, net VAT collected $14,791,510 million and had an interannual jump of 153.7%. Tax VAT increased by 159.1%, while customs VA increased by 142.6%.

From the AFIP they specify that “this result is explained because the extensions of the tax deadline for the tax periods accruing from August to November had a negative impact”.

Furthermore, they pointed out that “customs VAT was favorably affected by the increase in the exchange rate and the suspension of withholding exemption certificates for some importers.”

In addition, the income tax has presented a change of 86.3%, obtaining 8,782,659 million dollars.

Central to this context was the increase in the minimum amount from which employees pay income tax (starting from October accrued for individuals with a gross monthly salary of less than $1,980,000); and the modification of the scheme for the months of October to December for those who continue to be reached.

Furthermore, in the tax on debts and credits, 3,146,166 million dollars, a year-on-year increase of 134.2%.

Social Security Income They increased by 123.8%, reaching $9,286,489 million.

In this case the increase in collection is mainly due to the increase in average gross salary and employment.

Due to the effect of the drought, export rights were obtained $1,544,729 million and a negative interannual variation of -6.3%.

In import duties and others, $1,343,737 million and a variation of 110.2%. The rising exchange rate has had an impact there.

In Personal Property, the $987,942 million with a variation of 134.1%. “The broadening of the tax base by the additional 25% rate applied to the purchase of foreign currency for hoarding and to travel and expenditure abroad has had a favorable effect,” the AFIP statement specifies.

In the PAIS solidarity tax, $1,510,889 million with a jump of 335.5%, a consequence of the increase in the price of the dollar and the expansion of its tax base with the income from the payment required for some imports.