Technicians from the Ministry of Livestock, Agriculture and Fisheries (MGAP) estimated that 2022 will end with a tax collection of US$ 312.1 million in the agricultural sectorwith an increase of 15% over what was collected in 2021, that is, US$ 41 million more.
as long as the tax burden is expected to fall 6.4% compared to last year and is located around 5.5% of the agricultural GDP, due to higher levels of production.
These data were presented in the Yearbook of the Office of Programming and Agricultural Policy (Opypa)in which the technicians highlighted that this was a year with “very good prices in the main agricultural items”, which generated an increase in the sector’s product.
The 2022 fiscal year closes with a record of export revenues of US$ 14 billion.
The details of the taxes
Social Welfare Bank (BPS)
From Opypa BPS revenue is projected to increase 8.8% after a growth of 6.6% in pesos of the tax base (BPC), which was added to the fall in the price of the dollar during the payment months.
Rural Real Estate Contribution (CIR)
In the case of the CIR, an increase of 12.4% in the collection in dollars was estimateddue to a 7.4% adjustment in pesos together with the drop in the dollar price.
Elementary tax
Another increase that was anticipated is in the primary school tax collectionwhat up 15.1% this year.
Wealth tax
With an increase of 17.1% compared to 2021, it is expected to reach US$ 41.1 million for the collection of this tax at the end of the year.
Income Tax on Economic Activities (IRAE)
In this case, the estimate for 2022 is primary, the technicians reported, since data is available up to August. The projections show that the net IRAE, after deducting the Tax on the Alienation of Agricultural Goods (IMEBA), will have an increase of 1.5%.
Tax on the Alienation of Agricultural Goods (IMEBA)
Collection by IMEBA for this year is expected to reach US$ 89.4 million, which represents an increase of 28.1% over the amount collected last year. These results will be achieved by higher income for producers due to high pricesparticularly in the livestock sector.
Value Added Tax (VAT)
An increase of 13.7% (given the evolution of the price of the dollar and inflation) is expected in VAT collection. To make this estimate, the VAT paid by the producers who chose the IMEBA option as the final tax was taken into account.
MEVIR (Additional from IMEBA)
after a increased turnover in the livestock and agricultural sectors (taxed by this tax), it was estimated that 2022 will end with US$ 12.9 million collected from this tax, which represents an increase of 31.3%.
Registration Fee (Black Boxes)
Due to “a slight decrease in cattle slaughter” It is expected that the amount collected from this rate will be 7.1% less That the last year.
detractions
Deductions to unprocessed hides were estimated based on the projection of exports of salted, pickled and wet-blue hides. The Opypa Yearbook highlights that decrees 269/020, 174/021 and 188/022 established exemptions from deductions to subheadings 41.04.11 and 41.04.19 during part of 2020, 2021 and until the first quarter of 2023. The only item that remains taxed with deductions in this period (4101) will have a collection 9% lower than that of 2021 if the estimates are met.
Collection detail.
Taxes devolution
On the other hand, it was anticipated that the tax refund that the sector will capture will be US$ 58.4 million.
As detailed in the Yearbook, one third of the total amount of the indirect tax refund collected for exports of agro-industrial goods will be appropriated by primary production, while two thirds would be captured by the commercial and industrial stage.
John Samuelle
The annual exercise of 2022 closes with a record of export income of US$ 14 billion.
