The Federal Public Revenue Administration announced on Monday (03.06.2019/444.249,7/50,4) that tax collection for May reached $XNUMX million, with an interannual variation of XNUMX%.
VAT increased by 49%, driven by the distribution of payment plans, the tax on digital services and lower compensation in the fuel tax compared to May 2018. However, the increase was attenuated by higher VAT refunds to exporters and by the grain marketing regime.
Customs VAT increased by 46,9% from the entry into force of the additional tax on imports.
For its part, the income tax rose by 68,9%, supported by higher income from corporate tax returns and income from the Tax Revaluation, although the increase was moderated by the reduction in the rate provided for by the tax reform (from 35% to 30%).
The tax on current account debits and credits increased by 50,6%, with one more business day of collection than a year ago.
Meanwhile, Social Security resources increased by 32,2% due to the increase in the average gross salary. The increase was moderated by the convergence to the unification of the tax rate and the increase in the non-taxable minimum established in the Tax Reform.
In foreign trade, export duty revenue increased by 254,4% due to the rise in the exchange rate and additional duties, while import duties rose by 62,5%, also due to the exchange rate effect.
With no due dates last month, Personal Property income fell by 11,1%
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.
