Tax revenues amounted to ARS2,126.338 billion in February 2023, which implied a growth of 82.3% year-on-year (YoY). Adjusted for inflation, it decreased 10.2% YoY.
Among taxes, there was an increase in real terms only in VAT, as a result of the higher economic activity.
Income tax decreased due to lower VAT offsets and refunds of foreign currency transactions, despite the positive effect of the fourth advance payment for individuals in 2022 and the one-time payment on account for corporations.
Wealth Tax also decreased despite the fourth advance payment for the 2022 tax period.
Export Duties decreased because of lower volumes of sales abroad. There is a decoupling of tax collection with respect to international prices as a result of export incentive programs.
Social Security contributions grew slightly with respect to the same period of 2022 due to the increase in formal jobs.