Total resources for the month of May 2024 amounted to $612,818 million, reported the Ministry of Economy and Public Management.
If you discount the inflation of the period, the total collection for May would be approximately 7% higher than that of the same month last year.
“The trajectories are very different for resources of provincial origin and those of national origin. On the side of resources of provincial origin, there was an approximate drop of 18% in real terms,” explained the portfolio led by Guillermo Acosta.
Among the resources of provincial origin, there are two taxes linked to economic activity. The most important is Gross Income, which explains 77% of own collection. There appears “a real year-on-year drop of 7%.”
“In the case of Stamps, which has a 7% participation in its own collection, there was a drop of 17% in real terms in the same period,” he added.
Property taxes, with a 9% share in provincial collection, fell approximately 65% in real terms compared to May 2023. In the case of Real Estate, the real drop was 71% year-on-year.
For its part, the Automotive sector presents a year-on-year drop of around 16% in real terms.
Resources of national origin, meanwhile, registered an increase of around 24% in real terms in May 2024 compared to the same month in 2023.
“The great growth of these resources in the month of May meant that they represented close to 70% of the total resources, most of which came from the co-participation of VAT and Profits,” said the Ministry.
VAT net of refunds shows a year-on-year drop of 19% in real terms.
For its part, the collection of Profits, “is what contrasts with the remaining resources, showing a real growth of the order of 82%.” “This is explained, on the one hand, because the presentation and payment of DDJJ balances of companies that close their balance sheet in December is due in May,” noted the official report.
Because companies with dollarized assets recorded significant capital gains as a result of the exchange rate devaluation that occurred in December 2023, this situation implied that they paid more income tax, described the Province.
