Tax collection grew 117% in September, totaling 2.13 trillion pesos, driven by the strong liquidation of soybean exports, the Federal Public Revenue Administration (AFIP) reported today.
Excluding export duties, tax revenues in September showed an 87,6% year-on-year improvement, a variation even higher than the evolution of inflation in the same period, the agency noted.
During the ninth month of 2022, income from Export Duties or withholdings registered an increase of 489% compared to September 2021, with an amount of $434.033 million as a result of the Export Increase Program (PIE) that contemplated a temporary special exchange rate of $200 per dollar for settlements of the soybean chain.
Thus, between January and September, tax collection was 13,7 billion pesos, equivalent to an increase of 77% compared to the same period in 2021, AFIP stated.
The good performance of the collection during September was driven by the progressive taxes: in addition to the Export Duties, the PAIS tax (358,4%) and Income Tax (110%) stood out.
The year-on-year variation in Earnings was favored by a higher tax determined as the basis for calculating advances for the 2022 fiscal period of companies with a fiscal year-end in December, as a result of the application of a higher effective rate due to the incorporation of the progressive rate scheme.
The increase in the tax rate to be applied for perception of purchases in foreign currency, which rose from 35% to 45%, also had a positive impact.
Added to this were the net offsets made to Profits from other taxes, which amounted to approximately $15.400 billion, while in the previous year they had been approximately $8.500 billion.
Not taking into account net compensation and the increase in the perception for the purchase of foreign currency, the percentage variation would have been 106,7%.
Meanwhile, VAT collection amounted to $561.656 billion, while the tax component, linked to the domestic market, showed an increase of 87%, totaling just over $361.000 billion, while the customs component increased almost 83%, reaching $216.100 billion.
In addition, import duty revenues amounted to $63.100 billion, an increase of 71%.
As regards social security resources, which increased by 81,7% year-on-year, the high growth rates of the previous months were maintained in September, deepening the expansionary trend.
This was influenced by both salary increases and the growth in registered employment.
In terms of clarifications, they pointed out that the increase in these resources responded to the growth of Employer Contributions (+83,9% y-o-y) and the increase in Personal Contributions (+79,3% y-o-y).
Source: Telam
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