Income tax collection grew 46.7% in the first quarter

The collection for Income tax grew by 46.7% during the first quarter of this year, in relation to the similar period of 2021, reported the Central Reserve Bank (BCR).

The issuing entity explained that between January and March the collection of the tax on legal entities rose 26.2%; to natural persons, 28.8%, while the regularization of taxes was 129%.

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During the quarter, S/ 20,416 million were reached, compared to S/ 13,920 million the previous year.

Likewise, the BCR indicated that in March of this year, the income tax collection increased by 85.8% compared to the same month of 2021, mainly due to the higher payments for regularization of the income tax of legal entities for the year 2021 , which reached a maximum level for the month in the last 20 years.

In addition, the collection of income tax from legal entities increased by 31.1% year-on-year, mainly due to payments on account of domiciled legal entities, which increased by 34.5% compared to March 2021.

The collection of the tax on natural persons increased by 16% between March 2021 and March 2022, in all income categories, mainly by the second category (dividends) and the fifth category (income from salaried work).

On the other hand, income from regularization of income tax increased by 198% year-on-year, an increase mainly explained by higher profits in 2021.

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