The Ministry of Finance and Public Credit (SHCP) reported a 45.8% decrease in revenue from the Special Tax on Production and Services (IEPS), the fiscal stimulus implemented by the federal government to maintain the price of gasoline.
According to the report on finances and public debt until last April, the Treasury registered an amount of 87,793 million pesos for this tax, when it expected to receive more than 156 billion in the quarter.
Read more | What is the IEPS, when Morena wanted to lower it and how the price of gasoline is defined
However, the agency stressed that government revenues increased by 5.9%, reaching 2 billion 274 thousand 411.7 million pesos, an amount higher by 114 thousand 913.7 million than expected.
The Treasury also mentioned the annual real increase in Income Tax (ISR), with 35.3%, and Value Added Tax (VAT) with 14.8% respectively.
“In the accumulated from January to April, tax revenues increased 4.5% in real terms compared to the accumulated of 2021. This result is mainly explained by the ISR, which increased 17.7% and was 14.2% above the program during the period indicated, “said the agency.
According to the Treasury report, tax revenues remained above the approved amount and registered an annual increase of 4.5% compared to the same period in 2021. Without considering the IEPS of fuels, he reported, the accumulated collection to April exceeded the amount by 109 thousand 793.4 million pesos.
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