Tax collection registered a 62,5% year-on-year growth in March to total 241.089 trillion XNUMX million pesos, which marked a year-on-year expansion in real terms for the nineteenth consecutive month, the Ministry of Economy reported.
The evolution of foreign trade taxes rose 83,6% year-on-year and social security resources 64,4%, placing them as the main drivers of growth, highlighted the Treasury Palace.
DAmong foreign trade taxes, the increase is mainly explained by the growth in Export Duties, which registered an increase of 91,7% to total just over $136.000 billion.
"This trend is due to the rise in export volumes and international prices of the main products, which reached historic levels due to the war between Russia and Ukraine," the Ministry of Economy said.
For its part, import duty revenues reached $47.800 billion, with an increase of 63,8% year-on-year.
Meanwhile, Social Security resources, with an increase of 64,4% to just over $264.100 billion, reflected "the boost from improvements in the labor market," the official report noted.
As for taxes "that give the system progressivity", they expanded by 62,5%, and within that group, the Income Tax registered a growth of 64,1% to total $231.162 million.
The same happened with the Tax on Credits and Debits, which increased above inflation, 58,6%, some $78.604 million, "driven by the expansive evolution of the level of activity."
For its part, the PAIS tax, which is paid on the purchase of dollars for hoarding, increased 294% compared to March of last year, reaching $22.823 billion.
Meanwhile, DGI VAT showed a variation slightly below inflation, with an increase of 49,8% and $225.266 million, while that linked to customs movement grew 67,7% to reach $168.000 million.
The Ministry of Economy stressed that "the evolution of all taxes" provides "the resources that allow for foresight and greater sustainability of public finances."
For her part, the head of AFIP, Mercedes Marcó del Pont, stated that the reduction of the fiscal deficit of Alberto Fernández's government "is not conceived in the traditional way, through a cut in public spending, but rather through the improvement of tax resources and, in particular, with the contribution of the sectors with the greatest tax capacity."
Speaking at the Senate's Budget and Finance Committee in mid-March, Marcó del Pont said that "tax collection is improving due to growth, but there is also a huge responsibility and contribution from the tax administration."
In this regard, the official highlighted that "one of the most progressive taxes is the Personal Property Tax, which, thanks to the reform at the end of 2019, recovered part of the ground it had lost with the regressive modifications of the previous government."
Source: Telam
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