Sunat: tax collection reached S/11,838 million and increased 2.3% year-on-year in February

The February 2023 collection reached S/11,838 million of net Central Government tax revenue (discounting tax refunds), which meant an advance of only 2.3% compared to the similar period of 2022, reported the National Superintendence of Customs and Tax Administration (Sunat).

The entity explained that the growth of Collection in the second month of the year was driven by higher payments on account of third category income tax declared and paid by the mining and hydrocarbons sectors, in a context of recovery of international prices and higher exports. In addition, due to the favorable effect generated by the payment of deferred obligations corresponding to the month of January, as part of the measures to provide liquidity to companies, and the higher extraordinary payments registered in February 2023.

In contrast, andAmong the elements that attenuated the progress is the lower dynamics of the economy in January, which affected sectors such as trade and production, whose tax obligations are declared and paid mainly in February. To this is added the reduction of more than 7.0% in the level of imports for the month of February, despite the 1.6% increase in the exchange rate. The application of a reduced IGV rate of 8% for mypes restaurants and hotels, approved by Law No. 31556, also had a negative impact.

Detailed results in February

The Sunat explained that in February S/5,172 million were collected for Income taxwhich meant a growth of S/902 million or 11.5% compared to what was obtained in the same month of 2022. The result is explained by the higher payments in regularization (88.5%), payments on account of rent of third category (18.0%), non-resident income tax (12.4%) and first category (0.5%).

However, there were contractions in income payments from the second, fourth and fifth categories and those of the Special Income Regime, which fell 13.0%, 14.7%, 6.9% and 9.0%, respectively.

In what corresponds to general sales tax (IGV), S/6,567 million were collected, an amount that represented a 6.9% drop in real terms with respect to what was collected in the same month of 2022. This, despite the fact that S/72 million was received more than what was obtained in last year. “The Internal IGV decreased by 3.6% and collected S/3,759 million. For its part, the External IGV amounted to S/2,808 million, which represented a decrease of 11.0% compared to what was collected in February 2022 “Sunat said.

On the other hand, the collection by selective consumption tax (ISC) amounted to S/756 million and fell 13.4%. The internal ISC contracted 20.9% and the ISC levied on imports by 3.6%. “As in the case of the IGV, these results reflected both the low performance of domestic demand in January and the lower imports in February,” the supervisory agency mentioned.

Finally, the collection corresponding to the item Other income reached S/ 625 million, an amount that is equivalent to a decrease of 15.6% compared to February 2022. Said result was explained by the lower payments of the Special Tax on Mining (-17.3%), of which lower income obtained from withdrawal accounts (-23.0%), fines (-4.2%), temporary tax on net assets (-55.6%), among others