The net tax revenues of the Central Government (discounting tax refunds) accumulated S/100,335 million until August of this year. This represents a drop of 13.8% compared to the amount collected in the same period of 2022, according to data from the National Superintendence of Customs and Tax Administration (Sunat).
According to the collecting entity, in the first eight months of this year, income from Income Tax (IR) reached S/45,614 million, which is 17.8% less than what was collected in the same period of the previous year.
Meanwhile, the collection of General Sales Tax (IGV) fell 11.6%; while the amount from the Selective Consumption Tax (ISC) rose 1.3%.
Seventh month of fall
In August, net tax collection fell 14.6% after reaching S/11,279 million, which is more than S/1,200 million below the amount registered in the same month last year. With this result, there are already seven months in which income shows a decline. Only in February was growth observed and it was only 2.4%.
During August, income from IR was S/4,013 million, showing a drop of 9.9%, while income from VAT decreased by 18.4%. In addition, ISC collection was 3.9% lower than the same month last year.
Economist Luis Alberto Arias Minaya attributes the deterioration in tax collections to the economic recession and the decrease in product prices, both in exports and imports.
He adds that other factors are the tax amnesty granted by the Constitutional Court to large companies with litigation and tax exemptions, as well as the reduction of VAT for mypes restaurants and hotels.
According to Minaya, the reduction in fiscal resources forces the Government to cut various budget items, which translates into less public investment and in turn affects economic growth and contributes to the increase in poverty in the country.
The data
Benefit. Tax refunds made during the month of August amounted to S/2,330 million, which represents a decrease of 3.2% compared to what was registered in the same month of 2022, according to Sunat.
Source: Larepublica
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