Tax collection reached $612.146 billion in August, which represented a year-on-year increase of 33,5%, the Federal Public Revenue Administration (AFIP) reported on Wednesday (02.09.2020).
"During the first eight months of 2020, tax revenues exceeded $4 trillion, an increase of 27,3% year-on-year," the national agency said.
The increase was explained by the filing of tax returns and the payment of the balances of the Income Tax and the Personal Property Tax.
El Value Added Tax (VAT) generated revenues of $157.976,7 million, with a nominal increase of 11,7% compared to the same month in 2019. The agency noted that tax collection continues to be affected by the lower dynamism of economic activity associated with the mandatory quarantine. “The greater acceptance of Payment Facility Plans for current debt also had an impact on the collection for this concept,” indicated the AFIP.
Meanwhile, income tax revenues reached $141.115,2 million in August, an increase of 37,4% compared to the same month in 2019. “The improvement in income from this concept is explained by the filing of tax returns and the payment of income tax balances for individuals,” the Agency highlighted.
In this regard, he added: “As part of the decisions implemented to alleviate the situation of taxpayers, the due dates scheduled for June were extended on two occasions. The income from the tax on financial income and sale of real estate also operated. Likewise, the higher net compensations originated in others favored the magnitude of the interannual variation of the tax.”
Tax resources linked to the tax system Social security increased by 22,1% in twelve months, raising a total of $119.087,3 million last month. Employer contributions amounted to $68.735,1 million with an interannual variation of 22,2%, while employer contributions generated income of $48.599,5 million and increased by 24,3% in the same period.
“The behavior of taxes associated with the labor market continues to be conditioned by the tax policy measures implemented to cushion the economic impact of the coronavirus pandemic on employment and wage income,” the tax collection agency said.
In this regard, he listed: “Among the implemented tools, the extension of the SIPA component of employer contributions and the reduction in the rate for some sectors benefiting from the ATP Program stand out. During August, the greater acceptance of Payment Facility Plans for obligations due in the month had a negative impact again.”
During the eighth month of validity of the country tax Income was generated by $ 21.888,5 millonesThe amount collected by the new tax throughout 2020 is $89.611,1 million.
While the collection associated with the export duties reached $37.023,4 million in August, with an increase of 6,0% compared to the same period of the previous year. For its part, due to the Import Duties and the statistics rate raised $16.525,5 million, with an interannual increase of barely 0,9%.
Also, the tax on credits and debits raised $38.506,1 million, 20,7% more than in August 2019 and a cumulative total of $277.189 million during the eight months of the year, 30,5% more than last year.
Meanwhile, the collection of personal property The amount collected was $43.879,4 million, a variation of 685,1% compared to the same period of the previous year. “The presentation of tax returns and the payment of the balances for individuals corresponding to 2019 boosted the collection. The first due date of the advances corresponding to 2020 also occurred,” said the AFIP.
He added: “During August, funds were received corresponding to the maturities for holding shares and corporate interests of those taxpayers who regularized the payment of their obligations through the payment plans. The increase in the rate provided for in the Law of Social Solidarity and Productive Reactivation also had a positive impact.”
Finally, the Tax on fuels generated $18.818,5 million in August, an increase of 19,2% compared to the same month last year. “The collection was affected by the lower dynamism in the level of activity associated with the different measures implemented within the framework of the health emergency,” concluded the AFIP.
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