The Minister of Economy, Luis Caputo, will announce a new improvement in tax collection on Wednesday leveraged in significant growth in income taxes and value -added tax (VAT).
The increase is due, among other factors, Under comparison floor with respect to the income of February 2024, the improvement of consumption and the greatest economic activity. In addition to this we must take into account there are changes introduced by the Fiscal Package of 2024 that came into force after last of last year that are showing their effect now.
For example, according to estimates of the Politikon Chaco consultant and the Argentine Institute of Fiscal Analysis (Iaraf) the income of Profit grew 42% in the second month of the year, while those of VAT rose 5% real.
In such a way that two of the most important taxes of the tax structure that are distributed with the provinces showed a great recovery. In fact, shipments of Federal tax co -participation grew in February almost 20% real. The first would have produced about $ 2.3 billion and the second about $ 4.2 billion.
In that sense, it should be noted that The Government is managing to replace the losses of resources that generated the completion of the country tax in December 2024with the clarification that the one produced from that tax was stressed by the nation, while earnings and VAT is left alone with 56%.
In the case of tax on Profit is influencing its income the incorporation of about 800,000 employees in a dependency relationship that at the beginning of last year did not pay The lien of the fourth category, which are now doing it. Along with this, there is a real improvement of wages that increases the tax base.
Among the other taxes that multiplied their collection is the one that applies to liquid fuels, which grew 471.7%, due to the update of the fixed sum per liter that was postponed since 2023, and the Monotax, which grew 155%, due to the update of the fees.
According to the Iaraf, andn Set the VAT collection and profits “would have registered a real year -on -year rise of 17.2%” While “in the accumulated of the first 2 months of the year of the sum of these taxes, the real interannual variation would have been positive for 13.3%.”
The Government reiterated the promise to reduce the amount of taxes
The President Javier Milei insisted during the legislative assembly last Saturday that he will seek to reduce the amount of taxes That there is in Argentina, at least, at the national level. According to an Iaraf study last year, there would be 154 different taxes, between the three levels of the State: nation, provinces and municipalities.
“Considering the collection of VAT, contributions and contributions to social security, profits of human persons and societies, the provincial tax on gross income, the tax on banking and export rights and export rights, 83% are obtained of the consolidated tax collection of Argentina, ”says the report.
Tax simplification nationwide You need an agreement with the provinces to redefine what type of taxes each jurisdiction should receive. The claim of companies and businesses is concentrated in the Gross Revenue Tax that the subnational states receive, which is the one with the greatest impact on the costs and the final price of the goods.
If taken Only the collection the national taxes projected for this year, according to the Congress Budget Office (OPC), More than two thirds will concentrate on two taxes: VAT (39.7% of the total) and profits (28.6%). If credits and debit (9.3%), export rights (8.1%), liquid fuel tax and carbon dioxide (4.1%) and import rights (3.3%) are added to these.
Taking the two levies to liquid fuels as if it were one It is obtained that 6 taxes will concentrate more than 90% of such collection. The remaining 27 would represent 6.9% of the projected collection.
Source: Ambito
