The Minister of Economy and Finance, Alex Contreras, informed that the update of the fixed amount of the Selective consumption tax (ISC) It will not be executed until the last quarter of 2023, between the months of November or December, after a first postponement last January.
The fixed amounts of the ISC can be updated annually as long as the percentage variation of the CPI is equal to or greater than 1%. Said update is carried out every year in January, however, the corresponding one in 2023 was postponed for half a year through RM N° 032-2023-EF/15.
“Indeed, an upward adjustment corresponded to the month of January, we postponed it to July and we are evaluating the extension of this measure thinking about the recovery of all sectors,” he said in RPP Noticias.
In this sense, Minister Contreras recognized that, although the taxable amount is small, sectorally “it can be important and as MEF we have a clear commitment to reactivation.”
“Very likely we will extend the measure for a few more months, between November or December, until we see that, indeed, inflation goes down and the reactivation continues in line with what we are expecting,” he said.
Regarding this, Contreras pointed out that inflation of 7.9% has been moderating in recent weeks, so he expects a more marked slowdown in July, with some products that have corrected their prices, such as eggs and the chicken.
Source: Larepublica
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