The tax collection of November amounted to one trillion 953.860 million pesoswhich represented a year-on-year rise of 88.8%, driven mainly by the performance of resources associated with the domestic market and social security.
With only one month left to finish 2022, Tax collection for the first eleven months of the year marked an accumulated amount of $17.68 trillion, with an interannual variation of 79.9%.
“In this way, tax revenues for the year grew above the general price variation,” AFIP said in a statement.
The most relevant taxes in the tax structure were those that boosted collection in November, among which stood out Earnings (128.3%), VAT (96.4%), Social Security (94.9%) and Credits and debits (92.2%)which grew above average.
As in October, in the case of Profits, the component that reaches the Companies generated income for $75,573 million.
The latter was due to the payment of the second installment of the extraordinary payment on account provided only once to companies that have presented income derived from the commercialization of products and services whose international prices increased extraordinarily as a result of the international economic context (post-pandemic and war conflict between Russia and Ukraine).
Also outstanding in November was the performance of VAT collection (net of returns), which marked an interannual variation of 96.4%, to add 613,190 million pesos.
In this tax, an increase of 113.2% in that obtained by the DGI and 65.7% by Customs stood out.
“As the DGI VAT is an advanced indicator of the level of activity, this performance allows us to augur an economy that maintains good growth rates,” said the AFIP.
For its part, the collection of the Social Security System increased 94.9% to add almost 422,500 million pesos.
The interannual variation in this case was positively affected by the increase in average gross remuneration, which had an interannual increase of 82.6%, and the number of registered jobs, which rose 3.8% in the same period.
In November, the collection for export rights fell 34.8%, for an amount of 51,300 million pesos, due to the advancement of sales of soybeans and their derivatives during September, when the first tranche of the Export Increase Program (PIE) was implemented. , which on that occasion established a differential exchange rate of $200 per dollar for the soybean complex.
Meanwhile, income from import duties slightly exceeded 67,100 million pesos, which marked an interannual increase of 87.8%, the AFIP specified.
For its part, the so-called check tax marked an increase in income of 92.2% year-on-year, totaling 138,700 million.
And the PAIS tax, for the purchase of dollars for hoarding, reflected a rise of 83.7%, exceeding 28,100 million.
In the coming days, Argentina will sign a tax information exchange agreement (IGA) with the United States, which in the future will make it possible to expand the collection of taxes to beneficiaries of companies registered in the Northern country and to individuals who do not have declared their accounts in Argentina.
Sources from the collecting agency assured that in the exchange of tax information “data is received from everyone, including those who make up the companies.”
“Many taxpayers with some type of irregularity will surely rectify their sworn statements. A priori, we estimate that Argentines have US$100,000 million in US accounts”the sources added.
On this total, and based on the actions that must be taken when evasive or elusive maneuvers are detected, it is estimated that for this concept there would be a “collection floor of US$ 1,000 per year.”
