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VAT collection closed a positive quarter after a year

VAT collection closed a positive quarter after a year
February 10, 2024 – 9:19 p.m.

The collection of the tax grew by 1.47% in real terms, according to a report from the Chamber of Commerce and Services of Uruguay.

The collection of the VAT grew during the last quarter of 2023 by totaling 73,808 million pesos, closing a positive period after four consecutive declines, according to the latest report from the Chamber of Commerce and Services of Uruguay (Ccsuy).

The perception of this tax, which is usually used as an indicator to analyze how the consumption of goods and services evolves in the Internal market, it grew 1.74% in real terms during October-December, in the middle of a difficult year.

The perception of VAT It had fallen 1.09% in the first quarter, 1.71% in the second and 2.55% in the third, confirming the negative year.

By disaggregating the data, the survey of the Ccsuy specified that the collection of internal consumption showed a decline of 1.47%, for a total of 45,056 million pesos, while the perception of VAT on imports It was for 28,752 pesos, with an improvement of 7.21% year-on-year, something that did not happen in the previous four quarters.

Regarding what happened with the collection of the domestic consumption, It improved by 1.91% in January-March, while it was stable (0.01%) in April-June and grew by 0.96% in July-September. For those same periods, the perception imports fell 6.84%, 5.01% and 8.75%.

What happened to the collection in 2023?

By focusing on the collection At a general level, the data of the General Tax Directorate (DGI) show that the gross perception Last year it was 610,668 pesos, a real drop of 1.3% compared to 2022.

Refering to net collection, The final figure for 2023 was 523,741 pesos, a real decline of 1.9% compared to last year, according to data provided by the DGI in the last measurement.

Source: Ambito

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