Tax collection amounted to 2.1 trillion pesos in February, a figure that implies an increase of 82.3% compared to the same month last year, driven by taxes associated with the domestic market and employment, according to the Federal Administration. of Public Revenues (AFIP).
Most of the taxes that presented interannual variations due to above average: VAT (106.1%), Social Security System (103.2%), Credits and Debits in Account. Cte. (101.1%), PAIS Tax (95.1%), Personal Assets (94.5%) and Profits (91.4%).
Meanwhile, below that average were the Import Duties and Statistical Rate (47.9%), Fuels (37.5%) and Export Rights (-55.9%).
“Collection in February would have grown by 109% compared to the same month in 2022,” said the AFIP if it had not mediated the decrease in income from export and import duties and the statistical rate, which is the customs component of VAT and profits received from imports.
Specifically, he explained that the Export rights they decreased by 55.9% in the comparison with February 2022 due to lower volumes registered in the Affidavits of Sales Abroad (DJVE) corresponding mainly to wheat and soybean derivatives, due to the effect of the drought and the end of the Program of Export Increase -or soybean dollar- that generated an advance of exports that are usually liquidated in these months.
Instead, he explained that the VAT grew 106.1% in February compared to the same month last year, an increase that was positively affected by the VAT Tax component, which increased even more, 138%.
It also grew above average Tax on Credits and Debits in Current Account, 101.1%.
“Both taxes allow us to anticipate that the level of activity in the economy remains relatively high,” said the AFIP.
Regarding contributions and contributions to Social Security, in February there was a 103.2% increase in these taxes, an increase that reflects “a context of recovery of employment and wages.”
In the case of Personal Assets and Earnings, Taxes grew 94.5% and 91.4%, respectively, as a consequence of the tax administration measures adopted by the AFIP, after taxable minimums were modified to prevent medium-high income workers from paying these taxes.
Grouped by source of collection, tax resources registered the main variation in February with a rise of 111.5%, followed by Social Security resources (103.2%) and, to a lesser extent, customs, with a variation of 7.2% year-on-year.
The accumulated annual behavior of the collection reflected that, in February, a tax collection of $4.4 trillion was registered, a variation of 87.8% year-on-year.
“In the accumulated year, the taxes that presented year-on-year variations above the average were Personal Assets (130.2%), VAT (104.5%), Social Security System (104.4%), PAIS Tax (99.9 %), Credits and Debits in Cta. Cte. (99.2%) and Earnings (94.5%)”, detailed AFIP.
And he added: “If the resources obtained from foreign trade (Expo and Impo Rights, Statistical rate, VAT and DGA Profits) were excluded, tax revenues would have increased in the first two months by 108.6% compared to the same period of 2022”.
