Tax revenues returned to below inflation in June

The Federal Administration of Public Revenues (AFIP) reported that national tax collection increased by 109.2% compared to June 2022. When discounting inflation for the period, revenue collection shows a fall in real terms of 3.7%. On the other hand, the largest drop in real terms would have been that of the fuel tax with 34.9% year-on-year, followed by profits with 19.4% and export duties with 13%. At the other extreme, the taxes that increased the most would be Personal Property with 14%, followed by internal with 13.1% and VAT with 12.4%, according to data from economist Nadin Argañaraz.AFIP said that VAT collection during June grew by 147% compared to the same month of 2022 as a result of tax administration measures and “due to the effect of economic activity that remains at relatively high levels”. Both DGI VAT and customs VAT registered increases of 164.9% and 128.6%, respectively. In addition, it also boosted the collection of DGA Profits, which grew by 106.8% at the nominal level. In Personal Assets, growth was 147.8% compared to June last year. This month operated the expiration of presentation and payment of the balance of affidavit of individuals and shares and participations for the fiscal period 2022.Al regard, the AFIP stressed that “despite the effects of the drought, export duties recorded in June the best month so far this year with an improvement of 89.1% as a result of the income generated by the Export Increase Program” (dollar soybeans 3). In the accumulated of the first half of the year, tax collection amounted to $ 15.98 trillion, an improvement of 95.9% compared to the same period of 2022, below the inflation of that period that is around 120%. The taxes that grew above the collection as a whole were Refunds 177.6%, Personal Property 131.8%, VAT 124.6%, Internal Co-participated 119.8%, Other co-participated 117.5%, Credits and Debits in Cta. Cte. 111.5% and Social Security resources 110.8%.

Original source in Spanish