The positive performance of economic activity in June, with domestic tax obligations being paid in July, was one of the determining factors, as was the growth of VAT and IR.
According to the latest report from the National Superintendency of Customs and Tax Administration (Sunat), July’s tax collection achieved a growth of 11.8% compared to the same period in 2023, thanks to net tax revenues – discounting tax refunds – which reached S/11,858 million. However, from January to July it continues with a negative variation of 2.5% compared to the accumulated figure for the same period in 2023.
This result was driven by the increase in the collection of the General Sales Tax (IGV) by 11.1% (S/7,685 million) and the Income Tax (IR) by 17.5% (S/4,750 million), compared to the same month in 2023.. Also, the positive performance of economic activity in June, with domestic tax obligations being paid during the month of July, would have been another determining factor.
Among the largest extraordinary income, the most notable were those payments on account of the Third Category Income Tax corresponding to the sale of a company in the “electric power generation sector”, as well as the payments of the Second Category Income Tax from the distribution of dividends by a company in the “telecommunications sector” and a company in the “electric power generation sector”.
Tax collections in July of this year increased by more than 11%. Source: Sunat
Similarly, higher customs duty payments corresponding to the increase of around 14% in imports in July and the higher exchange rate, including some advance payments of guaranteed obligations that were to be recorded as August revenue, allowed the figure recorded in the seventh month of the year to be reached.
On the other hand, It was reported that tax refunds made during July amounted to S/2.547 millionan amount that represented a decrease of 6.8% compared to the same month last year.
Source: Larepublica
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