tax collection grew in September 117%by adding 2.13 billion pesosdriven by the strong clearance of exports from the soybean complex, the Federal Administration of Public Revenues (AFIP) reported on Monday.
Excluding Export Duties, September tax collection marked a improvement of 87.6% year-on-yeara variation even higher than the evolution registered by inflation in a similar periodhighlighted the agency.
During the ninth month of 2022, income from Export Duties or withholdings registered a rise of 489% compared to September 2021with an amount of $434,033 million as a result of the Export Increase Program (PIE) that contemplated a temporary special exchange rate of $200 per dollar for settlements of the soybean chain.
In this way, between January and September tax collection was 13.7 billion pesosequivalent to an increase of 77% compared to the same period in 2021, specified the AFIP.
The good performance of collection during September was driven by progressive taxes: in addition to Export Duties, the PAIS tax (358.4%) and Earnings (110%) stood out.
The year-on-year variation in Profits was favored by a higher tax determined as the basis for calculating the advance payments for the 2022 fiscal period of the companies with fiscal year-end closing last December, as a result of the application of a higher effective rate due to the incorporation of the progressive rates.
It also favored the rate increase to apply for the perception for purchases in foreign currency, which went from 35% to 45%.
Added to this were the net compensations made towards Gains from other taxes, which amounted to approximately $15.4 billion, while in the previous year they had been approximately $8.5 billion.
Without considering the net compensation and the increase in the perception for the purchase of foreign currency, the percentage variation would have been 106.7%.
While, VAT collection amounted to $561,656 millionwhile the tax component, linked to the domestic market, showed an increase of 87%, adding a little more than $361,000 million, while the customs component increased almost 83%, reaching $216,100 million.
In addition, the collection for Import Duties amounted to $ 63,100 million with an increase of 71%.
With regard to resources related to social security, which marked an increase of 81.7% year-on-year, in September the high growth rates of the previous months were maintained, deepening the expansionary trend.
This was influenced by both wage improvements and growth in registered employment.
As regards details, they indicated that the increase in said resources responded to the growth of Employer Contributions (+83.9% yoy) and to the increase in Personal Contributions (+79.3% yoy).
