The Tax collections totaled $11.9 billion in July, figure that explains a nominal growth of 233.5% compared to the same month last year, according to the Federal Public Revenue Administration (AFIP). In any case, recorded a real drop of 8% (after adjusting for inflation), somewhat lower than that observed last June (which was 14%).
So far this year, The tax collection agency totals revenues of $67.9 billion, with a nominal increase of 247.5%. Revenues for 2024 are being supported by the increase in export withholdings and the COUNTRY TAX, which the Government is now preparing to withdraw as the fiscal package is implemented.
According to the official details, VAT contributed $3.7 billion, with a nominal interannual variation of 217.1%. This would represent a fall of around 12% in real terms, which would indicate a significant improvement compared to June, when it fell by almost 20%
The tax component, which is linked to the domestic market, rose 216.7%while the customs tax, linked to foreign trade, grew by 21.5%. It should be noted that the collection of the VAT shows what happened with the billing of the previous month.
For its part, the Income tax recorded revenue of $1.9 billion, with an increase of 174.8% nominal annual rate, which represents a real drop of 24%. According to the AFIP, during the last month the tax was still being collected corporate taxes on financial income derived from the devaluation of December 2023.
Meanwhile, the Tax on Bank Debits and Credits, known as the Check Tax, contributed $881.510 million with a nominal increase of 241.7%.
On the other hand, the resources of the Social Security contributed $3.2 billion, with a nominal year-on-year variation of 230%. Personal contributions totaled $1.2 trillion, while employer contributions accounted for $1.9 trillion.
On the other hand, the Withholdings on exports recorded revenues of $562.104 million with a nominal increase of 800%. On the side of the imports, there were $329.288 million in tariffs, which marks a nominal variation of 214.3%. The PAIS Tax grew 965.5% nominally to $698,351 million
The taxes that rose the most and those that fell the most
He Argentine Institute of Fiscal Analysis (IARAF) He indicated that “the collection that would have increased the most in real terms would be the COUNTRY tax with +193%followed by Export duties with +148% and thirdly, there would be the Tax on Fuels, with 54.6%”.
“The increase of export duties are mainly due to last year’s drought and the increase in the fuel tax, which was carried out by the Government in the first months of the year, to make the real value of the tax more realistic,” the consultancy firm said.
At the other end, The revenue that would have fallen the most would be that of the tax Personal Property, which would have grown by 90% year-on-year in real terms, followed by Earnings, with 24.4% and internal co-participation, with 20%.
Source: Ambito
