In August, collection fell 9% in real terms

02/09/2020 - 17:06

• Clarín.com

• Economy

The Federal Administration of Public Revenue (AFIP) reported this Wednesday that the collection in August fell 9% in real terms, that is, discounting the effect of inflation, as a result of the paralysis of the economy generated by the quarantine against the coronavirus.

As reported by the agency, tax collection reached $ 612,146.0 million in August.

"The data constitutes an increase of 33.5% in relation to the same month last year. During the first eight months of 2020, tax revenues exceeded $ 4 trillion, an increase of 27.3% year-on-year," they indicated from the agency led by Marcó del Pont. 

Despite the new red, they stressed that "the collection dynamics again showed a slowdown in the rate of contraction in real terms in relation to the records observed since the COVID-19 pandemic began."

"Among the elements that favored the behavior of tax revenues, the presentation of the tax returns and the payment of the balances of the Income Tax and the Personal Property Tax stand out. As part of the decisions implemented to alleviate the situation of taxpayers, the due dates scheduled for June were extended twice, "they detailed. 

In July, the collection reached $ 559,091.9 million in July, which represented a contraction of 13.1% in real terms, thus adding its seventh month in the red. 

The August data is known shortly after the presentation of the project prepared by the Frente de Todos to create a tax on large fortunes and thus alleviate the needs of the national government to finance the emergency measures that were launched during the coronavirus crisis .

The objective of the initiative promoted by deputy Máximo Kirchner is to create a one-time tax on assets that exceed 200 million pesos, in order to reinforce tax collection.

The head of the AFIP, Mercedes Marcó del Pont.

Photo: Luciano Thieberger.

Through this tribute, the ruling party estimates that about

can be raised

, which will be invested in public works, improvement of the health system, support for SMEs and social programs, among others.

The fall in resources represents a problem for all jurisdictions, as indicated recently by a report prepared by the Center for Argentine Political Economy (CEPA).

According to this study, tax collection at the national, provincial and municipal levels has been significantly affected, both by the reduction in the amount of taxes and fees derived from inactivity, and by the delay in their payment, due to the effects of the pandemic.

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