Argentina increases August tax collection by 32,6%

 

Earnings and Personal AssetsThe overall result was boosted by the first advance payment

Income and Personal Property Tax, which was entered in August, while last year it was recorded in July. In addition, there was one more business day for the Tax on Debits and Credits compared to August of last year.

 

IVA The highest values ​​of the series were reached in the Net VAT, with a collection of $ 98.116 million and an increase of 40,3%; in Debits and Credits with 40,8% and in Import Duties with 51%. In particular, the tax VAT grew by 31,9% and the customs VAT by 54%. It should be noted that the year-on-year increase was attenuated by the higher amounts of VAT withholding refunds for the grain marketing regime and by the VAT refund to exporters compared to the previous year.

 

EarningsMeanwhile, the income tax totaled $68.701 million and grew by 44,9%. In addition to the advance payment from individuals that fell in August this year, the accreditation of net compensation, mainly from VAT, for about $1300 billion, the income of $407 million from subjects residing abroad for the purchase and sale of shares and other company securities, and the fourth installment of the balance of the sworn declaration of companies with closing in December, had a positive influence.

 

Debits and Credits in current account totaled $20.745 million, with an increase of 40,8%.

 

Social Securityl. For its part, social security taxes contributed $69.916 million, with a variation of 21,5%The increase was moderated by the effects of the tax reform approved at the end of last year.

 

Foreign trade exhibited a increase of 51% in the rights of import and a 3,4% drop in export duties. Imports were favorably affected by the increase in the exchange rate. Exports were negatively affected by the decrease in export volumes for which duties were paid and the progressive reduction of export duties on the soybean complex.