Tax collection in February reached 134.803,3 billion pesos, which meant an increase of 26,5% compared to the same month in 2015, according to the director of AFIP, Alberto Abad, who acknowledged that the reduction in withholdings had begun to be noticed.
In the first two months, tax revenues reached 297.457,4 billion pesos, an increase of 2015% compared to the same period in 32,8.
"The costs of tax reforms such as the elimination of withholdings and profits are clearly being felt; they are beginning to erode revenue compared to the months of last year," said Abad.
He added that "we are in the worst of all possible worlds, because we are returning what was collected for tourist perceptions, which means we have a double negative impact on the collection."
AFIP officials said that in February, 1.910 billion pesos were refunded, compared to 70 million pesos last year in tax refunds.
Also, compared to last year, 429 million were not collected due to the cancellation of withholding taxes on agricultural exports.
VAT collected 41.648 million, with a year-on-year increase of 34,3%, of which 28.327 million corresponded to customs tax and 13.380 million to the DGI tax, which is related to domestic consumption.
Income tax amounted to 30.399 billion, with an interannual increase of 20,8%; while Bank Credits and Debits collected 8.751 billion, with an increase of 34,7% compared to February of last year.
The year-on-year increase in social security revenues reached 27,1%, with income of 36.322 billion pesos.
In terms of foreign trade, import revenue grew 66,7% year-on-year in February, with revenue totaling 3.774 billion.
Export tax revenues amounted to 3.510 billion euros, an increase of 4,0% compared to the same month last year.
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