Collection fell almost 4% in January and has been in the red for three consecutive months

In January of this year, the tax revenues of the National Government reached S/13,387 million, which represents a drop of 3.8% compared to the same month last year. In this way, for the third consecutive month the collection closes in red, after in November and December 2022, the Sunat reported a variation of -13.5% and -19.4%, respectively.

According to Sunat, this lower collection would be explained by the “slowdown that the growth of the national economy and domestic demand would experience during the month of December, whose tax obligations are declared and paid mainly in January.”

Also, to them is added the lower level of imports, which fell by 18% and the exchange rate, which contracted by 1.7%, which reduces the collection at the level of external taxes.

On the other hand, there were higher payments on account of the Third Category Income Tax declared and paid by the sectors mining and hydrocarbons.

less dynamism

For the tax lawyer Miguel Carrillo, the result for January is also a product of the tax flexibilities dictated by the Government as part of its support plan for businesses affected by the social mobilizations.

“This year, the Sunat gave a benefit so that between January 9 and 13, Mypes whose annual net income does not exceed 1,700 UIT can release their deduction accounts. Another factor is the postponement of the declaration and payment of taxes for December, which had to be paid in January,” the expert explained to The Republic.

Carrillo also indicates that part of this drop in tax revenue is a reflection of the fact that the Gross Domestic Product (GDP) has been slowing down as a result of the social upheaval. This is due to the fact that the road blockade prevented the transfer of merchandise from the mountains to the coast, which has paralyzed trade and therefore translates into lower collection.

However, the tax official acknowledges that regardless of the crisis sociopolitical, the first two months of the year at the collection level are normally low.

Collection will pick up momentum

Due to the fact that the declaration and payment of taxes for December was postponed from January to February, it is expected that in that month the collection will show growth, since the payment of taxes corresponding to the month of January will be added to this.

“We are going to have the declaration and payment of taxes for both December 2022 and January 2023 in February, perhaps the impact will not be so overwhelming compared to January, but it will accelerate, because then in March all the companies will declare your annual income tax. The curve is going to grow”, affirms the tax officer.

Another factor that would help collection to improve in the coming months would be the extraordinary payment of around S/3,000 million that Telefónica would make to the Peruvian State, after the Fifth Chamber of Transitory Constitutional and Social Law of the Supreme Court rule in favor of the Sunat.

“That they are going to pay it, they are going to pay it this year, surely gradually, but that is also going to impact the collection”, he concluded.

IGV collection fell by 6.8%

In the first month of the year, the collection of the General Sales Tax (IGV) reached S/7,937 million, an amount that represented a 6.8% drop compared to what was registered in January 2022. While for tax on rent was collected S/5,886 million, which means a decrease of 0.7%.

Meanwhile, the collection of the Selective Consumption Tax (ISC) registered a contraction of 18.6%, with payments that totaled S/817 million, according to Sunat.

Finally, tax refunds made during the month of January amounted to S/1,958 million.

keys

Impact. The application of IGV 8% to mypes restaurants and hotels influenced the low collection.

Upward. Extraordinary payments in January 2023 exceeded the similar month of 2022.