Collection grew by 87% and once again exceeded inflation

Monday, August 01, 2022 | 9:54 p.m.

National tax collection increased 87% year-on-year in July, consolidating an increase of 71% year-on-year for the total collection for the first seven months of 2022

In July, the indicator reached $1,745,178 million (+87.0% yoy), accelerating the expansion of fiscal resources with respect to previous periods. Said dynamic was driven by the growth of the Income Tax, the Tax on Personal Assets, and the resources of the Social Security.

National tax collection grew by 87.0% yoy in July, driven mainly by the performance of VAT, Income Tax, taxes associated with Social Security and the Tax on Personal Assets.

Regarding Social Security resources (+79.2% yoy), its expansion was explained by salary improvements and the growth of registered employment. The rise responds to the growth of Employer Contributions (+81.2% yoy) and the increase in Personal Contributions (+78.6% yoy).

The taxes that grant progressivity to the system registered an increase of +126.4% yoy This increase was, on the one hand, due to the income of the second installment of the payment facility plan for the balance of fiscal year 2021 and the second advance payment for the fiscal year 2022 of the Companies with balance sheet closing in December, corresponding to Income Tax (+118.8% yoy).

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