Thanks to the greatest contribution of Income tax and special money laundering tax, in November the tax revenues grew 4.2% year-on-year in real termsas Ámbito anticipated. Last month the Customs Collection and Control Agency (ARCA) showed total revenues of $13 billion.
The organization reported that in nominal terms, tax collection It grew 178% compared to the same month last year, against an inflation in the same period of 167% estimated by the Libertad y Progreso Foundation.
“This month, income was recorded corresponding to the Palliative and Relevant Fiscal Measures, which among others included: the Asset Regularization Regime – Special Regularization Tax. $97,456 million were collected through this regime. This month the deadline for joining the regime and submitting the advance payment of no less than 75% of the Special Regularization Tax expired.“said the collecting agency.
On the side of the moratorium, $287,061 million corresponding to to the payments on account and the membership fees for August, September and October”.
Also the Tax on Personal Assets had an important contribution due to the Special Income Regime (REIBP). $36,736 million were received this way.
Beyond that, it must be taken into account that there is an improvement in economic activity that also contributes to ARCA registering higher income.
According to official information the Net Value Added Tax collected $4.2 billion with a nominal interannual variation of 156.4%. Tax VAT increased 160.3%, while Customs VAT increased by 155.3%. The data reflects that consumption has not yet recovered.
For its part, Income Tax presented a year-on-year variation of 187%, with $2.6 trillion. It is explained because in the month the expiration of the balance of the Affidavit for companies with a fiscal year end in Junewhich is the second most important of the year, and the income of the first advance payment of human persons for the fiscal period 2024. In real terms The tax grew by 7%, but given its importance in the tax structure, it is decisive in the final result.
Meanwhile, the Tax on Bank Debits and Credits contributed $1 trillion with a year-on-year increase of 162.6%while the Social Security income increased 189.3%, to $2.9 trillion, thanks to the increase in salaries of registered workers and the payment facility plan.
On the other hand, for Export Duties were obtained $590,262 million and a year-on-year variation of 482.3%. The rise in the exchange rate had a positive impact. According to ARCA, “the decrease in the average prices of most of the products of the soybean and cereal complexes compared to the previous year attenuated the interannual variation.” Import tariffs generated $374,878 million, with a variation of 163.2%.
In the case of Personal Assets, $122,753 million were reached with a nominal interannual variation of 37.3%, while for the PAIS Solidarity Tax $389,468 million were collected with a variation of 97.6%.
After 5 months of decline, there was a recovery
As indicated by the Argentine Institute of Fiscal Analysis (IARAF), “after falling for 5 months in a row, in November national tax collection would have increased by a real 4.3% compared to November 2023.” If extra income from moratorium, Personal Assets and money laundering are excluded, the increase would be 0.9%.
In November The participation of extra income due to moratorium, Personal Assets and money laundering in tax collection was 3%, which in terms of GDP would be equivalent to 0.07%.
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According to the IARAF, the collection that The most that would have increased in real terms would be the fuel tax with 174%, followed by export duties (118%) and Social Security (+8.3%). For the fourth time this year, the monthly collection The real value of the PAIS Tax decreased in interannual terms, with a decrease of 26%.
At the other extreme, the collection that The most would have fallen would be the personal property tax with a drop of 48.6%, followed by COUNTRY Tax (-26%) and VAT (-4.3%).
Source: Ambito
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