AFIP reported that March tax collections reached $7,726,459 million an interannual variation of 230.6%.
While the number is impressive, it is well below inflation during the period, which was around 290%.
According to the IPC-OJF (GBA), March inflation was 12.2% monthly and recorded an inter-annual growth of 288.3%.
A report by Nadin Argañaraz details this in the third month of 2024domestic tax collection would have fallen by 16% real compared to March 2023. Excluding the collection of taxes related to foreign trade, the drop would be 24%.
The hardest hit taxes were those related to consumption and domestic activities, such as VAT and the check tax, which were partially offset by the sharp increase in the tax. COUNTRY that is gaining more and more weight in revenue collection.
The net VAT collected $2,818,322 million and had a year-over-year change of 232.5%. Tax VAT increased by 217.0%, while customs VAT increased by 256.0%. In turn, profits have collapsed because the number of people reached by the tax has decreased.
VAT increased in the midst of inflation, but due to the fall in purchasing power and consumption it was unable to match the price index. He also played against that last month there were itthree working days less than in March 2023.
In turn, the Income Tax presented a positive interannual variation of 136.1%, collecting $1,056,716 million.
In the tax on debts and credits, artn 600,613 million dollars, a year-on-year increase of 244.0%, while Social Security revenue increased 209.2% to $1,740,259 million.
The increase in collection is mainly due to the increase in the average gross salary.
On export rights Achieved $310,088 million and a year-over-year change of 541.7%. There the increase in the exchange rate had a positive effect.
At the same time, the interannual variation was attenuated by the decrease in average prices of most products of the soybean and cereal complexes and by three fewer working days of harvest compared to the previous year.
In import duties and others, $238,515 million and a change of 191.0%.
In the COUNTRY solidarity tax 694,903 million dollars were raised with a variation of 1,552.5%. This tax is favorably affected by the expansion of its tax base with the payment income applied to certain imports.
In turn, the AFIO specifies that the jump is 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, and to the application of the PAIS tax for transactions with bonds and securities subscribed by importers (BOPREAL).
Source: Clarin
