According to AFIP, the collection of fiscal resources reached 7.2 billion pesos in February an interannual increase of 240.9%.
The result is 30 points less of inflation estimated for the last 12 months of the year, which according to private consultants will be around 270% if the February figure stands at around 15%.
“In the second month of 2024, “Domestic tax collections would have fallen by a real 11% compared to February 2023. Excluding foreign trade-related tax collections, the decline would be 19%” indicated Nadin Argañaraz, director of the IARAF.
“It is important to remember that in February the placement of the BOPREAL bond generated an additional collection of the PAIS tax. Analyzing by tax, the collection that would have decreased the most would be that of the fuel tax, which would have decreased by 69.8 % in real terms on an annual basis, followed by personal goods at 66.2% and profits at 38.6%. Taxes that would have increased the most in real terms would be PAIS at 303%, followed by duties on “export with import duties at 50.9% and tax statistics at 6.6%. For its part, VAT collection would have increased by 1.8%”, explained the economist.
The AFIP report specifies that VAT collection has reached 2.6 billion a year-over-year increase of 286%. This was because the fiscal VAT increased by 238.3%, while the customs VAT increased by 408.2%.
“The customs VAT has had a favorable effect the increase in the exchange rate and one more working day for collection compared to the previous year and the suspension of exemption certificates for some importers,” AFIP specifies.
Income taxes showed a positive interannual variation of 134.5%, raising $1,092,286 million. “The fourth advance for the benefit of human persons, for the 2023 tax period, expired this month,” AFIP noted.
In export rights, $280,581 million and an interannual variation of 476.5%. Here the increase in the exchange rate and an extra working day for collection had a positive effect.
In import duties and others; 219,430 million dollars and a change of 307.3% were obtained.
In the PAIS Solidarity Tax, 575,917 million dollars were collected with a variation of 1,439.5%.
“It is favorably influenced by the expansion of its tax base with payment revenue applied to certain imports. In turn, they increased compared to previous periods due to the increase in the exchange rate, the increase in rates starting this year, both for advance payments and for imports of goods and freight,” specified the AFIP.
It also affected the application of the PAIS tax for transactions with bonds and securities subscribed by importers (BOPREAL).
Source: Clarin
