Tax revenues grew 1% annually in the first quarter: SAT

He Service tax administration (SAT) reported preliminarily that the tax revenue they totaled 1.22 trillion pesos during the first quarter of 2023, which meant an annual increase of 1% in real terms.

“With preliminary information as of April 3, 2023, the accumulated collection was 1,224,583 million pesos. This represents an increase of 96,232 million pesos compared to the same period in 2022, and a real growth of 1.0%”, detailed the decentralized body of the Ministry of Finance.

Despite the 1% growth in the indicated period, the increase in tax revenue was less than the 2.7% shown in the first quarter of 2022, according to tax data.

The collection of Income tax (ISR) registered 780,073 million pesos in the first three months of the year, which meant an annual growth of 3.3% in real terms.

He ISR showed a slowdown given that it registered an annual increase of 3.3% in the referred period, while in January-March 2022 it was 13.5% annually, according to official data.

The gross collection of VAT (Value Added Tax), that is, without discounting refunds, compensations and adjustments, was 530,831 million pesos, which represented an annual increase of 1.5% in real terms.

The above explained the SATallowed refunds to taxpayers for 229,351 million pesos, which represents a growth of 11.8% in real terms with respect to the same period of 2022.

The collection of Special tax on production and services (IEPS) presented a growth of 13.3% in real terms, registering 91,330 million pesos in the first quarter of 2023.

“The increases in the collection of 2023, are only possible thanks to the effort of the taxpayers to comply with their tax obligations in this period of the Annual Declaration of the 2022 financial year,” said the federal prosecutor.

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