Argentine tax revenues amounted to $327.869,7 million in March, with a year-on-year increase of 37,3%.
In the case of VAT, the year-on-year variation in net VAT was 35,6%., with a rise in particular of 42,2% in the VAT and 9,9% in the Customs VAT. The result was affected by the decrease in VAT collections for imports of movable goods and by lower levels of imports in dollars.
Income tax collection increased by 25%, due to higher income from tax withholdings and income from the fiscal reassessment. On the other hand, the increase was attenuated because the fifth advance payment for the 2018 fiscal period, which was received in March last year, will be collected in April this period.
The tax on current account debits and credits rose by 35%, with two fewer business days of settlement compared to March 2018. If it were not for this factor, the variation would have been 50%.
In social security taxes, revenues increased by 27,3%The increase was moderated by the convergence to the unification of the tax rate and the increase in the non-taxable minimum established by the 2017 tax reform, which went from $2.400 to $7.003,68. Without considering the reform, the increase would have been 31,6%.
In foreign trade, export duties increased by 493,1%, due to the rise in the exchange rate, the Additional Export Duty and Services; however, it was mitigated by one less business day of collection. Meanwhile, import duties grew by 32,8%.
In the Personal Property Tax, revenue fell by 81,1%, because the fifth advance payment for the 2018 fiscal period, which was received in March last year, will be collected in April this year.
Finally, the fuel tax increased by 42,5%.
Detail
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