Tax revenue totaled ARS1.341,595 trillion in April 2022, which implied a growth of 64% year-on-year (YoY). Adjusted for inflation, it expanded 4.9% YoY.
The recovery in the level of activity since March 2021, the increase in international commodity prices and the increase in the nominal exchange rate (22% YoY) contributed favorably to this result.
Among tax resources, the increase in real terms in the PAIS Tax stands out due to the return to foreign travel as COVID-19 restrictions are lifted. The Tax on Credits and Debits, Income Tax and VAT also recorded significant growth.
Duties on Foreign Trade decreased, because of lower export quantities and trade union conflicts that affected the normal operation of the agro-export sector.
Social Security contributions showed high year-on-year growth.