Tax collection in November showed, for the third consecutive month, but without showing a significant recovery in the economy.
Specifically, revenue increased by 36,7% to $648.976 billion., reported the Ministry of Economy on Wednesday (02.11.2020).
The Ministry of Finance said the boost was due to the gradual improvement in the level of activity and the taxes associated with the Solidarity Law, passed last December.
In the set of taxes linked to the internal market (Earnings, DGI VAT, Credits and Debits, Fuels and Domestic Taxes), national revenue increased by around 43,5% compared to the same month in 2019. This represents more than 60% of the increased revenue.
"Although the growth rate of VAT-DGI collection (17,7% year-on-year) was five points lower than that of the previous two months, its growth compared to that recorded between April and July (2,1% year-on-year average) stands out in a context of deceleration of year-on-year inflation," said the Ministry of the Economy.
Meanwhile, the collection of the Income Tax reached $156.602 billion in November, an increase of 78,3% compared to the same month in 2019.
Meanwhile, the collection of the Tax on Credits and Debitss accelerated its margin growth (27,2%), despite the relatively lower number of business days. In the cumulative year of 2020, it collected $405.838 million, 29,4% more than last year.
Tax resources linked to the tax system Social security The tax revenues registered a 20,6% increase, raising a total of $127.794 million. Employer contributions amounted to $74.024 million with a year-on-year variation of 21,1%, although the 95% reduction for activities critically affected by the pandemic had an impact. If corrected for this factor, the collection would have grown by around 40%. While employer contributions generated income of $52.722 million: +22,9% in the same period.
The collection of the tax on Personal property was $19.511 million (1.762,2%) while the COUNTRY TAX raised $8.480 billion. “Both taxes were essential to sustain the level of tax collection in the midst of the health crisis without affecting the sectors with the lowest tax capacity,” said the Ministry of the Economy.
While the collection associated with the export duties reached $40.259 million, with an increase of 18,5% compared to the same period of the previous year. They were affected by the fall in the collection of Export Duties (-25,1%) due to the advance of operations registered in the same period of 2019 and the reduction of the rates for various goods and services announced last October. On the other hand, due to the Import Duties y statistics rate $20.821 billion was raised, with a difference of 27,5% with last year.
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