Monday, February 26

Taxes: AFIP raised close to $ 11 billion in 2021

The improvement in tax resources will exceed inflation, so that it will have an improvement in real terms, a figure that will support the position of the Minister of Economy, Martín Guzmán, in the negotiations he maintains with the International Monetary Fund (IMF).

Most of this rise was achieved in the first months of the year.

In April, tax collection rose 105% in nominal terms, all due to the low base of comparison left by 2020. Precisely, in that month, the previous year, there had been the hardest moment of the closure of activities that ordered the government to counteract the contagion of Covid-19.

After that, the rate of improvement was shortened until it stopped in the last months of 2021 in the order of 58 to 59 percent nominal, always above the inflation rate.

The behavior is due to the contribution made by the withholdings on exports from the countryside, above all due to the effect of the rise in the prices of soybeans and grains sold by Argentina.

Also, throughout the year, there were certain extraordinary income that will not be present in 2022, because its extension was included in the 2022 Budget that was rejected by Congress.

One of the resources that Guzmán will not have this year, if a new law is not approved, is the Solidarity Contribution, known as the Wealth Tax, which contributed some 500,000 million pesos, according to private estimates.

The Value Added Tax (VAT), which is one of the pillars of the collection, ended the year at a level of the order of 2.3 trillion pesos, while the other base, the Income Tax, would exceed $ 3 trillions.

Meanwhile, Social Security contributions and contributions ended with income of the order of 2 trillion pesos.

Most of the recovery of these taxes was registered in the second semester, and is explained by the recomposition of registered employment.

The final data will be known this Monday, when the Ministry of Economy publishes the spreadsheets with the data.