Sunat: October collection registered growth of 31.5%

According to the National Superintendency of Customs and Tax Administration (call), in October 2021 the collection was S / 11,214 million of net Central Government tax revenues (discounting tax refunds), which represents an increase of 31.5% and 14.5% over the same amount collected month in 2020 and 2019, respectively.

The entity pointed out that in accumulated terms, between January and October 2021, S / 113,210 million have been collected, an amount that is equivalent to a growth of 45.5% compared to the same period of 2020, and 16.9% compared to 2019, reported the National Superintendent, Luis Enrique Vera.

Factors that affected the collection

– The recovery of national economic activity, with significant growth in GDP and the domestic demand that would have been registered in the month of September, exceeding expectations and contrasting with the reductions registered during the previous year.

– The highest payments for Third Category Income Tax especially by companies in the mining sector, due to the higher international prices of metals, in particular copper, and the higher exchange rate.

– The increase in imports, which in October would have registered a growth of around 30%, as well as the increase in the exchange rate (12%), translated into a higher collection of customs taxes, especially for VAT imports.

– Extraordinary payments of more than S / 600 million recorded in the Income Tax and Fines item, as a result of the control and collection actions of SUNAT.

Tax results

– Income Tax: S / 4,317 million was collected in October, 36.9% more than in 2020. This result reflects the higher payments on account of the Third Category Income Tax of the General Regime (RG) and of the Mype Tax Regime (RMT) that increased by 39.3%.

The higher regularization payments also stood out, with a growth of 330.1%, explained by extraordinary payments received for SUNAT shares in the order of more than S / 150 million; followed by the highest payments of Second Category Income (265.9%) where extraordinary payments for the distribution of dividends from important companies in the order of S / 350 million also stood out; and Fifth Category Income, which registered a growth of 5.8%, reflecting recovery after the contraction observed in 2020.

– General Sales Tax: its collection amounted to S / 6,566 million, an amount that represents an increase of S / 1,365 million with respect to that registered in October 2020 and of 19.3% in percentage terms.

The Internal VAT increased by 5.5% and collected S / 3,526 million, an amount that exceeded by S / 368 million that collected in October 2020. For its part, the VAT on imports amounted to S / 3,040 million and registered a growth of 40.6%.

– Selective Consumption Tax: it registered a growth of 28.8%, with S / 802 million collections. This result was explained both by the higher Internal ISC that grew 34.0% and the ISC paid in Imports that grew 22.3%.

– Other income: collection amounted to S / 1,110 million, an amount that represents a growth of 31.7%. This result was mainly explained by higher payments of fines (354.7%), Fractions (43.6%) and Temporary Tax on Net Assets – ITAN (3.7%).

– Refunds: in October the tax refunds made amounted to S / 1,721 million, an amount that represented an increase of 0.7% compared to October 2020. In the result, the higher returns from exporters stood out, reflecting the better performance of the economic activity.