They say that collection will increase 148% – News from Argentina


October 2, 2023 – 00:00

The head of the General Directorate of Customs (DGA), Guillermo Michel, assured that the growth in collection will exceed 148% annually and will offset the expense of the latest measures announced by the Minister of Economy, Sergio Massa, while ruling out a hyperinflation scenario.

Asked about the financing of measures such as the elimination of the Income Tax for the majority of workers or the refund of the Value Added Tax (VAT), Michel pointed out that as of September 28, “the collection will exceed $4.1 billions.”

“Excluding foreign trade, which is not comparable because the soybean dollar had a historical record of US$8,163 in settlement in September of last year, taxes will grow above 148% year-on-year with VAT growth above 180%. , in debits and credits of 128% and in social security of 125%,” Michel said in a radio dialogue. To this is added – he indicated – the income derived «from the PAIS Tax to the payment of imports from abroad, which provides additional revenue.»

In the same way as the refund implemented since 2001 and until December 2016, which refunded 5% through payment with debit cards, he pointed out that the Buy without VAT program aims at the “expansion of the tax base due to greater money laundering.” economy». As of yesterday, he added, “13,794,591 people accessed the benefit for $21.3 billion.”

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