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Quarantine deepens the drop in collection, which in June lost 17.2% in real terms

2020-07-02T22:25:09.892Z


AFIP's revenues totaled $ 545,962.8 million in June, 20.1% more than the same month last year. However, they were well below the year-on-year jump in prices.


07/02/2020 - 17:56

  • Clarín.com
  • Economy

The AFIP reported this Thursday that the tax collection was in June at $ 545,962.8 million. This figure confirms the impact of the quarantine that caused it to fall 17.2% in real terms , that is, discounting the effect of accumulated inflation in the last 12 months.

It is that revenues rose 20.1% compared to June last year, while prices in the same period went up around 45%.  Thus, throughout the first semester of 2020, tax revenues totaled $ 2.8 trillion .

In May , with a stricter quarantine, the collapse had been worse, at 22.3% in real terms. "The transition from social isolation to social distancing that rehabilitated production and commerce in part of the country mitigated in June the effect of the drop in the level of activity on tax collection," the AFIP said in a statement.

In June, the Value Added Tax (VAT) recorded a variation of 11% compared to the same month last year without counting the effect of inflation. However, the stoppage of internal sales is still important since the part of VAT that reflects tax collection increased by only 3.9% in nominal terms. An increase of only 0.3% compared to the results for May. On the other hand, customs VAT, which shows the income from imports, rose 26%.

And the income from Income Tax registered an increase of 9.8% in the period. Among the factors that mitigated the collection by this last tax, the extension must be considered so that human beings present their sworn statements and pay the balances corresponding to the 2019 fiscal period, the agency that leads Mercedes Marcó del Pont reported.

For its part, the resources linked to the Social Security System increased 22.4% in relation to the same month of the previous year. "The behavior of these taxes reflects, among other elements, the effects of the postponement by two months of the SIPA component payment of employer contributions under the Emergency Assistance Program for Work and Production, as well as the implementation of a plan payment facilities to regularize said maturities, "said AFIP.

The amount collected from withholdings on exports increased 28.1% without taking into account the effect of inflation and reached $ 36,154 million. 

For its part, the PAIS tax, the 30% surcharge on the purchase of the US $ 200 per person authorized by the stocks, collected in June $ 14,116 million, a jump of 18.5% compared to the May registration. This indicates that the purchase of tickets for hoarding increased in the quarantine. So far this year, that tax has raised $ 47,770 million.

"With a real drop of 15.2% in tax collection in June, the second quarter dropped 19.9% ​​year-on-year, the largest in the last 23 years. The drop in activity due to the pandemic and confinement strict has been reflected in the tax collection, it showed a greater decline than in the second quarter of 2002, "said Nadín Argañaraz, of the IARAF.

Source: clarin

All business articles on 2020-07-02

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