Tax collection during June reached one trillion 680,901 million pesos, which marked a year-on-year increase of 82%, the Ministry of Economy reported this Friday, with which accumulated twenty-two consecutive months with increases above the price variationa result that had not been observed since the 2011-2012 period.
This increase was driven by the growth of Income Tax, and on Personal Assetswhich more than doubled their income compared to last year, growing 109.8% and 108.2% respectively, and Social Security resources, which increased 83%.
With the June figure, tax collection accumulated in the first half of the year an increase of 67.9% to add eight billion 153,413 million pesos.
From the Ministry of Economy they estimated that revenues for this first half of 2022 exceeded in real terms those achieved in 2021 and the years prior to the double crisis (2018/2019 and Covid pandemic).
Foreign trade taxes showed an interannual increase of 25.5%, in particular, Import Duties and statistical rates, which together registered a growth of 63.9% to exceed $52,300 million.
While, Export Duties increased by only 11.2%, to reach $95.8 billion. Economy highlighted that this meager performance was due to the “load transport stoppage that affected the normal activity of the exporting agricultural sector.”
Regarding the performance of the Tax on Profitsthe rise was 109.8% to add just over $464,100 million, and that of Personal Assets advanced 108.2% to reach 87,500 million.
Another tax that rose above the average was the COUNTRY tax that applies to the purchase of dollars to hoard, which increased 260% to add $24.7 billion.
The amount received for bank debits and credits also increased 90% to reach $112.1 billion. It should be clarified that the exemption from this tax continues for the sector Health.
For its part, the tax on fuels increase 32% to $36,000 million affected by the postponement in updating the value of the tax.
The VAT DGIlinked to domestic activity, advanced 78% to $278.1 billion, while that related to Customs rose 73.9% to $189.58 billion.
The Employer contributions They rose 84% to $183.9 billion, personal ones rose 80% to nearly $125 billion, while social security-related gold grew 90% to $9 billion.
“The evolution of these taxes continues to be affected by the exemptions granted by the National State to alleviate the tax burden on the Health sector, the critical sectors of the Repro 2 program and the provinces of the Norte Grande”, highlighted the Ministry of Economy.
“We recover tax collection as a genuine source to implement the public policies that are necessary to face the crisis and to guarantee the financing of the State,” added the economist when participating in the II International Seminar on Poverty and Gender that was organized by the General Audit of the Nation (AGN).
Along these lines, he stated that the Government has been working since its inception “to reverse the regressivity of the tax structure inherited after the 2017 reform and expand the contribution of the sectors with the highest taxpaying capacity”.
And he concluded that “having a more progressive tax regime based on the modifications of the Solidarity Law, the creation of the Solidarity Contribution and the changes in Earnings and Personal Assets allows us to maintain the genuine financing capacity of the State without resorting to the alternative of indebtedness”.
