Wednesday, March 29, 2023

Argentina’s tax collection rises 82.3% year-on-year in February

Argentina’s tax collection this February amounted to 2.1 trillion pesos (some US$10.423 million), with a year-on-year increase of 82.3%, official sources reported on Wednesday.

The official data for the price index for January are not yet known, but according to calculations by private consultants, in the second month of 2023 inflation could have been 105% year-on-year, so revenue could have fallen in February by actual terms.

According to the Ministry of Economy in a statement, the year-on-year increase of 82.3% registered by the collection in February was “driven by the taxes associated with the internal market and employment.”

In the first two months of the year, Argentina accumulated a tax collection of 4.3 million pesos (US$21,530 million), with a year-on-year increase of 87.8%.

Last year, Argentina’s tax revenues amounted to 19.9 trillion pesos (some US$97,755 million), with an increase of 81.6% compared to 2021 and below last year’s inflation rate, which was 94.8%.


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