June tax collection was below inflation for the sixth consecutive month

Tax collection increased by 109.2% year-on-year in June when reaching the $3,517,257.6 millionaccording to what was reported by the Federal Administration of Public Revenues (AFIP). However, she would have returned to grow below inflation of the same period, as occurred in the previous five months.

According to the head of the Argentine Institute of Fiscal Analysis (IARAF), Nadin Arganarazduring the sixth month of 2023, the drop in resources collected in real terms -due to inflationary adjustment- was 3.7% compared to June 2022.

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Tax collection: which taxes led the falls

“The collection with the greatest drop would have been that of fuelsthat I would have done it in a 34.9% real year-over-year, followed by Earnings with 19.4% and Export duties with 13%“, maximize Argañaraz.

Following this line of argument, the economist pondered that with the income of the last Export Increase Program (PIE) “the payment in installments of the tribute was achieved.”

On the other hand, the analyst evaluated that “The agricultural dollar had a positive impact and negatively the tax compensations in the payment of Profits“.

Collection of June: corresponding were the taxes that grew the most

The taxes that registered the highest increases in nominal terms were VAT (147%)the Shared Internal Taxes (145.8%) and the tax on Credits and Debits (108.3%).

At the same time, Social Security resources expanded by 113.9% due to increases in the categories Employer Contributions (123.7%) and Personal Contributions (118.2%).

In this sense, Personal property shows an increase in 147.8% which, according to a statement from the Treasury, was “positively affected by the income of the affidavits of human persons and the income that by shares and participations the substitutes responsible for the tax make.”

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The calculation made by Nadin Argañaraz yields real increases in the collection of Personal Assets (14%) followed by Coparticipated Internal Taxes (13.1%) and VAT (12.4%).

Accumulated collection between January and June 2023: grew below inflation

On the other hand, the cumulative growth of the Tax collection between January and June 2023 was $15,976,465 million and reflected a positive variation of 95.9% YoY compared to the same period of the previous year.

However, the total nominal increase led by Refunds (177.6%), Personal Assets (131.8%), VAT (124.6%) and Co-participated Internals (119.8%) fell back below inflationwhich would be close to 120%.

FM