November collection increased by 139.5%, but below inflation

La recaudación de noviembre subió 139,5%, pero estuvo por debajo de la inflación

The November collection, the last full of the Alberto Fernández administration, rose 139.5% in November and fell behind inflation. So, in real terms, Tax revenues fell 6%, according to private estimates.

The official report determined that the November collection amounted to $4.68 billion. The head of AFIP, Carlos Castagneto, highlighted on the social network X that “all taxes registered a significant nominal increase in November.”

“In particular, the taxes with an interannual increase above the monthly average of the collection the PAIS tax, with 600.6%; Personal Assets, with 365.5%; other co-participants, with 189.2%; credits and debits in the current account, with 175.8%; and VAT, with 171.6%,” said Castagneto.

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The PAIS tax is applied to the purchase of dollars and card operations abroad. Since August it has also handled all imports, which explains the huge leap this tribute took.

On the other hand, the Import Duties and Statistical Rate is below the monthly average, with 112.2%; Export Rights, with 97.6%; and Income, with 75.8%.

AFIP pointed out that the taxes that are primarily collected in November are VAT, PAIS and Credits and Debits in Current Accounts.

The jump in the collection of 139.5% is below the estimated inflation for November, which Up 12% compared to last month, with a year-over-year record of 160%according to private estimates.

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“The national tax collection is collected in November decreased by 6% real year-on-year. By excluding taxes linked to foreign trade, it will remain constant in real terms,” ​​said economist Nadin Argañaraz, of IARAF.

Argañaraz detailed that in terms of real interannual changes in these eleven months, The taxes with the biggest reduction are export duties (64.4%), Fuels (43.4%) and Income (15%). The taxes with the biggest increase would be the COUNTRY tax (52.8%), VAT (9.6%) and Personal Property (3.8%).

“Tax collection records ten months of true fall, dynamic that is unlikely to change in the last month of the year. While waiting for the concrete economic measures that the new administration plans to take, a certain cooling of activity is expected, which will add to the acceleration of inflation, which will undoubtedly affect tax revenues in the next government,” they continued from the consulting firm.

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