Tax Resources reached $450.909,8 million last month, with an interannual increase of 53,4%, reported this Thursday (01.08.2019) the Federal Administration of Public Revenues (AFIP).
The year-on-year variation of the Net VAT reached 43,3%; in particular the Tax VAT grew by 52%, while customs VAT increased by 28,1%. The result was offset by higher refunds and tax offsets.
Income tax collection rose 65,8%It is worth remembering that last month was the deadline for filing a sworn tax return for individuals and the Cedular Tax for financial income and sale of real estate for the 2018 fiscal period (the payment of which was due in June), and the payment of the second advance payment for companies closing in December for the 2019 fiscal period. In turn, the increase was attenuated by the decrease in the corporate tax rate (from 35% to 30%) provided for in the Tax Reform, which reduced income from advance payments.
The tax on Debits and Credits was 56%, with the same number of working days as the previous year.
Social Security System revenues increased by 39,9%, with increases of 41,3% in personal contributions and 39,2% in employer contributions. The overall result of the system was helped by the increase in average gross remuneration and the greater distribution of payment facilities; in the opposite direction, the convergence to the unification of the rate and the increase in the non-taxable minimum established by the Tax Reform acted. Without considering this reform, the interannual increase would have been 44,3%.
In foreign trade, export duties increased by 298,7%, driven by the exchange rate and additional export duties. Meanwhile, import duties grew by 49,9%.
Personal Property Tax collection rose by 73,4% and the fuel tax 10,3%.
Aduana News is the first Argentine customs newspaper to launch its digital version. With 20 years of experience, its publications and initiatives aim to provide the most relevant knowledge on customs issues in order to contribute to safe trade in the region.
