The Central Reserve Bank of Peru (BCRP) reported that the collection for General Sales Tax (IGV) grew by 41% last year compared to 2020 (23% compared to 2019), mainly due to the IGV on sales. imports and, to a lesser extent, by the internal VAT.
It is performance is due to the higher level of economic activity, as well as a lower basis for comparison, due in part to the acceptance of debt under the new Deferral and/or Installment Regime (RAF).
The income from the IGV to the imports increased by 56.5% between 2020 and 2021 (38.6% compared to 2019), explained by the higher volume of imports, the effect of higher import prices and the depreciation of the sol.
Meanwhile, internal VAT collection grew by 30.3% between 2020 and 2021 (12.4% compared to 2019), and positive year-on-year variations were recorded since December 2020.
In monthly terms, the IGV increased by 29.8% in December 2021 compared to the same month of 2020 (38.9% compared to December 2019), mainly due to the IGV on imports, with which a growth was registered for the eleventh consecutive month.
In December, VAT collection on imports grew by 45.1% compared to the same month in 2020 (66.2% compared to December 2019). Income from internal VAT increased by 18.7% compared to December 2020 (21.3% compared to December 2019), which has been influenced by the recovery of the economic activity.
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