Collection in April amounted to 1,341,595 million pesos, an increase of 64% year-on-year, thanks to the increase in resources from Social Security, Income Tax and VAT, according to the Ministry of Economy.
“This dynamic placed the level of income corresponding to the first quarter of 2022 above that registered in the same period of the previous year”, 60.2% year-on-year, detailed the Palacio de Hacienda.
The factors that explain the expansion of Social Security resources (+72.1% ia), were wage improvements and the recovery of registered employment.
Besides, Income Tax registered a growth of 82% ia
The increase in Earnings “occurs even under the effect of the reforms implemented in 2021, to alleviate the tax burden of workers in a dependency relationship,” the official statement highlighted.
The increase “was the product of the improvements registered in the labor market and the sustained growth of economic activity.”
Regarding the Tax on Personal Assets, an increase of 5.3% was registered ia, affected by a high base of comparison.
Taxes with a greater relation to economic activity also contributed to explain the growth of national collection.
Within this group are VAT, with $ 423,795 million and an increase of 69% ia the Tax on Credits and Debits, with $93,996 million and an increase of 64.2% ia and the tax on fuels $30,195 million and an increase of 9.8% ia
Foreign trade taxes show a growth of +33.4% ia The main concept that explains growth is Import duties and statistical rate, which together registered an increase of 67.6% ia
At the same time, Export Rights, with $97,229 million grew 21.9% ia, affected by several factors. On the one hand, the advancement of the register of operations between February and the first fortnight of March had an impact. At the same time, there was a cargo transport strike and a trade union conflict in the ports that affected the normal activity of the agricultural export sector.
