Bienes Personales - Oficina de Presupuesto del Congreso

ANALYSIS OF NATIONAL TAX REVENUE – SEPTEMBER 2020

by Juan Fourcaud | Oct 15, 2020 | Tax Revenue

National tax revenue showed a real increase of 5.6% in September, the first increase so far this year, partly due to adjustments in the tax deadline calendar, the relaxation of social isolation, and the lower comparison base against September 2019.

Total revenue amounted to AR$606.5 billion, which implied a nominal growth of 43.7% YoY, and Social Security resources grew for the first time in real terms since April 2018.

This growth in collection is explained by the gradual increase in the level of activity but mainly because last month’s Income Tax and Wealth Tax deadlines, originally scheduled for previous months, became effective.

In absolute terms, the taxes that contributed most to the nominal increase in revenue were Income Tax (20%), Value Added Tax (17.2%), Wealth Tax (11.8%) and PAIS Tax (11.3%).

This last tax obtained a record collection, generating AR$20.8 billion from the purchase of dollars for hoarding purposes.

Analysis of National Tax Revenue – October 2019

by Nicolas Perez | Nov 8, 2019 | Tax Revenue

In October, tax revenue totaled AR$446.17 billion, which implied a growth of 42.8% YoY. In the annual cumulative figure as of October, tax resources of the National Public Sector show a 46.8% YoY growth. Revenue decreased by 5.9% YoY in real terms in the tenth month of the year.

October revenues were reduced by the impact of the fiscal stimulus measures announced by the National Executive Power during the month of August. According to OPC estimates, those measures caused a loss of resources of around AR$35 billion last month. Excluding this effect, nominal revenue would have grown 53.9% YoY, and 1.4% YoY in real terms.

The measures mentioned above particularly affected the collection of Income Tax, Social Security and VAT. On the other hand, Export Duties increased in October with respect to the previous month because of a higher number of tons for export.