Tax revenues increased by 65,9% in 2021 compared to the previous year and increased by 73,6% in December compared to the same month in 2020, the Ministry of Economy reported on Monday (03.01.2022/XNUMX/XNUMX).
According to what was reported, total collection during 2021 reached 11,004 billion pesos, while December closed at 1,179 billion pesos.
It was also noted that "in December, there was a strong acceleration in the growth of taxes associated with economic activity with an increase of 71,1% year-on-year."
The official report highlights that "taxes associated with Social Security had high growth rates due to the process of recovery of wages following the various collective bargaining agreements and the recovery of registered employment."
At the same time, "the reforms introduced through the Law of Social Solidarity and Productive Reactivation are highlighted, which allowed strengthening public resources by granting greater progressivity to the tax system."
The economic portfolio indicated that "the collection grew in December, driven by the increase in foreign trade taxes and social security resources and reached in the last month of the year, the highest value at constant prices of the last four years (2017-2021), placing the accumulated collection at the end of 2021, at levels higher than those of pre-pandemic."
Regarding Social Security revenues, the Treasury Department considered that these resources obtained high growth rates (67,8% year-on-year -ia-) and respond both to an increase in Personal Contributions (66,7% yoy) and to an increase in Employer Contributions (70,1% yoy)».
He then clarified that pension income "is affected by the exemptions granted by the National State, to alleviate the tax burden on the Health sector, the critical sectors of the REPRO 2 program and the provinces of the Great North."
The Ministry of Economy pointed out that "as regards Foreign Trade Taxes, the dynamics seen in previous months are maintained, registering a 142,8% increase. The main boost was provided by Export Duties, with an increase of 194,0% yoy and by Import Duties and the Statistical Rate, which together grew by 81,5% yoy.
Regarding revenues from domestic consumption, they grew by 71,1% yoy, with an increase in VAT (61,7% yoy), fuel tax (52,9% yoy), shared domestic taxes (62,2% yoy) and the tax on credits and debits (82,9% yoy).
For taxes related to income and assets, "the Income Tax grew 55,6% yoy, even under the effects of the reforms implemented in 2021, to alleviate the tax burden on employees, while the Personal Property Tax registered an increase of 24,7% yoy due to the higher amounts received for the third advance payment, corresponding to the 2020 fiscal period."
With information from Télam
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