The body led by Carlos Castagneto specified that accumulated revenues in the first nine months of 2022 amounted to $13.76 billion, with an interannual variation of 77%.
ANDl Value Added Tax (VAT) recorded revenues of $561,656 million with a nominal increase of 84.7%, slightly below inflation. The tax component left $361,050 million, with an improvement of 87.5%, while the customs component contributed $216,166 million, with an improvement of 82.9%. The tax expresses, strictly speaking, the behavior of the collection of the previous month.
Income Tax registered a growth of 110% to $430,877 million. The AFIP reported that it had a positive impact the increase from 35% to 45% of the retention for those who buy dollars for hoarding or make payments in foreign currency and the entry into force of the progressive rates that established a rate of almost 42% for large companies that distribute dividends.
Secondly, the “soybean dollar” allowed the AFIP to keep $434,033 million, which marked an extraordinary growth of 489% rsame month last year. The AFIP explained that in addition to the program, which allowed the liquidation of US$8.123 million from the cereal companies, also favored a growth of the official exchange rate of 46.1% compared to September 2021, in addition to the increase in international prices of grains sold by Argentina. Meanwhile, import tariffs and the statistical rate contributed $63,124 million with a nominal growth of 71.3%.
The Tax on bank credits and debitswhich better reflects the movements of money in the economy in real time, had a collection of $138,547 million, with a nominal increase of 90.1% and a real increase of 4.1 points over inflation.
Secondly, The PAIS Tax, applied to purchases of bills and currency in foreign currency, collected $44,009 million, with a year-on-year variation of 358.4%. “It is influenced by the increase in the exchange rate and demand in relation to the previous year,” said the AFIP.
The Social Security in total registered entries for $369,175 million, with a nominal increase of 81.7%, discounted inflation marked a drop of 4.2 percentage points. Personal contributions left $148,503 million (+79.3%) and employer contributions another $217,870 million (+83.9%). “The year-on-year variation is positively affected by the increase in average gross remuneration and jobs,” said the AFIP. The average gross remuneration reached a year-on-year increase of 75.8%, while the total number of jobs (8,064,427) increased year-on-year by 3.9%.
Meanwhile, Income from the Personal Property Tax registered an increase of 47.2% for $26,642 million. “The increase in the rate to be applied for receipts for the purchase of foreign currency had a favorable effect, which went from 35% to 45%. “Without considering the net compensation and the increase in the rate of perception for the purchase of foreign currency, the percentage variation would have been 46.1%”, specified the AFIP.
On the other hand, the Argentine Institute of Fiscal Analysis (IARAF) highlighted that due to the better performance of co-participation taxes, in September the provinces received $598,929 million. “This means a nominal increase of 87.9%which, when discounting inflation for the period, translates into a real increase of 1.9%, basically driven by a growth in income tax and VAT collection”, highlighted the IARAF.
Source: Ambito
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