Tax revenues amounted to ARS1.680,901 trillion in June 2022, which implied a growth of 82.1% year-on-year (YoY). Adjusted for inflation, it expanded 11.5% YoY.
The recovery in the level of activity operating since March 2021, the increase in international commodity prices and the rise in the nominal exchange rate (28.9% YoY) contributed favorably to this result.
Among tax resources, the increase in real terms in the PAIS Tax stands out because of the return to foreign travel as COVID-19 restrictions are removed. Income Tax and Wealth Tax showed important increases because the maturities occurred this month, which in 2021 took place in the month of August. VAT also recorded a satisfactory performance.
Duties on Foreign Trade were reduced because of a cargo transportation strike that affected the normal activity of the agricultural and livestock exporting sector.
On the other hand, Social Security resources showed high year-on-year growth.