Tax revenue amounted to ARS1,964.056 billion in October 2022, which implied a growth of 92.8% year-on-year (YoY). Adjusted for inflation, it increased 2.2% YoY.
Among tax revenues, the increase in real terms in the PAIS tax stands out, because of the return to foreign travel, a situation that will be reinforced in the coming months by the start of the Soccer World Cup. A higher level of economic activity with respect to 2021 contributed to the good performance of VAT, which also benefited from lower Refunds. Income Tax was boosted by the receipt of the first advance for the extraordinary payment applied to corporations.
Wealth Tax decreased because of a high comparison base attributable to the difference in maturities between fiscal periods.
Export Duties were sharply reduced compared to last month, because of the end of the benefits established by the Export Increase Program (DNU 576/2022) and returned to the previous pattern.
On the other hand, Social Security contributions showed a slight growth.