Tax collection in June amounted to 226.692 billion pesos, which meant an interannual increase of 29,8 percent, reported this Monday (03.07.2017) the head of the Federal Administration of Public Revenues (AFIP), Alberto Abad.
One of the relevant data that emerged from the June figures was that the percentage increase was higher than the inflation rate in the same period, driven by income from VAT and Personal Property Tax payments.
"Tax collection is beginning to reflect the increase in the level of activity in the economy and the improved oversight policies," Abad explained during a press conference.
The increase in revenue was supported by higher net VAT income, which rose 29,8 percent to reach approximately $65.100 billion.
In this item, the Tax VAT, linked to domestic trade, rose by 29,6 percent, while the Customs VAT - which reflects issues related to foreign trade - increased by 35 percent.
Meanwhile, the income recorded for the payment of Personal Property Taxes increased by 50 percent year-on-year, due to the expansion of the taxable base of contributors due to the money laundering that ended at the beginning of the year.
Personal contributions, on the other hand, increased by 25,8 percent, with revenues of just over 21.300 billion pesos; employer contributions rose by 26 percent, with 31.100 billion pesos, and “Other Social Security Income” with an increase of almost 46 percent, 2.500 billion pesos, completed the positive picture.
Based on these figures, in the first half of the year, tax collection exceeded 216 trillion pesos, which meant an improvement of 30,7 percent compared to January-June 2016.
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