Tax collection does not raise its head, it contracted 6.8% in October

The october fundraiser of 2023 amounted to S/11,967 million, corresponding to the tax revenue of the Central Government Net and discounting tax refunds, which meant a drop of 6.8% compared to the same month last year, according to the National Superintendence of Customs and Tax Administration (Sunat).

The collecting entity indicated that “the trend has been maintained since March 2023, however, it is the lowest rate recorded so far this year (-6.8%). This result was compensated by the increases in the Non-domiciled income (6.0%), First Category (3.5%) and the ITAN (4.1%), among others.”

According to Sunat, the collection performance in October is based on several factors, including that Income Tax collection continued to decrease, affected by the lowering of the coefficients used to calculate payments on account of the Third Category.

“It should be noted that a significant group of taxpayers continues to use the largest balances in their favor reported in the Annual Declaration to offset their current tax obligations,” explained Sunat.

Furthermore, in October, the extraordinary payments obtained as a result of the control actions carried out by SUNAT reached S/252 million, an amount lower than the S/752 million registered in the same month of the previous year.

Result from taxes

In the tenth month of the year, the collection of VAT reached S/7,319 million, which represents a decrease of 7.4% compared to the same month of 2022.

He Internal VAT decreased by 4.8% and collected S/4,002 million associated with the performance of internal demand and lower payments made by gas companies.

For his part, the VAT that taxes imports collected S/3,317 million, which represents a decrease of 10.2% compared to October 2022, in a context of lower imports and a lower exchange rate.

In Income tax S/4,279 million were collected, which represents a decrease of 18.2% compared to the same month of 2022.

Increases were recorded in payments for Non-Domiciled Income (6.0%) and in First Category (3.5%), while a reduction is evident for Regularization, payments on account of Third Category, both of the General Regime as well as the MYPE Tax Regime, Second Category, Fourth Category, Fifth Category, among others.

In what corresponds to the Excise tax (ISC), collection reached S/807 million, which represents a decrease of 5.5%.

The ISC that taxes imports increased by 0.7%, mainly due to the higher guaranteed payments of the fuel ISC (9.5%), while the Internal ISC decreased by 10.0% due to the lower performance of domestic demand .

Finally, tax refunds made during the month of October amounted to S/1,767 million, an amount that represented a decrease of 31.9% compared to the same month in 2022.