According to estimates by the According to the consultancy Politikon Chaco, as of August 21, tax collection showed a real drop of around 7%. He VAT recorded a 17% drop real and the Tax on 9% gainscompared to the same period last year.
It should be noted that this is of partial data that may change, since there was one week left to conclude the month. However, lThe numbers are similar to those that have been reported in recent months.
Between May and June, the effect of the payment of Income Tax by companies that closed their balance sheets in December 2023 had a positive influence on tax revenues.
That month it occurred the great devaluation of the peso, which caused extraordinary profits in those firms that had dollarized their assetss. The tax accrued was mostly paid in May and the remainder was left for June.
On the other hand,August is the first month in which withholdings are applied to wages for Income Tax, But that collection will only have an impact in September.
Meanwhile andThe government continues to collect resources with the PAIS Tax, which is supposed to suffer a reduction in the rate from 17.5% to 7.5% starting next month, which will result in a loss of resources of between $200,000 and $300,000 million per month.
In addition to this, Although contributions from foreign trade taxes are central to the national State’s tax collection structure, this year they are suffering the effect of the fall in international soybean prices.Statistically, they show extraordinary growth because last year the activity was affected by the drought. The retentions Until August 21, they rose by 45%, but import tariffs fell by 20% in real terms compared to the same month last year.
Accumulated collection until July
National tax collection in The year-to-date figure would have decreased by 7% year-on-year in real terms. Excluding taxes related to foreign trade, the figure would fall by 13.6% in real terms, according to the Argentine Institute for Fiscal Analysis (IARAF).
In terms of real year-on-year change, theThe taxes with the biggest drop were Personal Property (68%), Domestic Shared Tax (22.6%) and Social Security (17%). The taxes with the greatest increase would have been the PAIS tax (264%) and export duties (45.5%).
“It is important to highlight the Increased participation in the national collection of the PAIS tax between the first 7 months of 2023 and 2024, since, in 2023 this tax accounted for 1.6% of total revenue and currently 6.3%,” says the IARAF
“In addition -he specifies- eIn 2023, it was ranked ninth in terms of importance, while currently it occupies 5th place.”
Source: Ambito
