Tax refunds made during the month of January amounted to S/ 2,061 million, an amount that represented a growth of 2.1% compared to the same month in 2023.
The net tax revenues of the Central Government (discounting tax refunds) reached S/ 14,261 million during January 2024. With this, collection registered a growth of 3.4%[1] compared to the same month last year. After 10 months of consecutive falls, an improvement is evident thanks to the management of SUNAT and economic factors.
Determinants of January collection
The performance of January collection is mainly based on the following factors:
- The income obtained as a result of the control actions carried out by SUNAT, especially the mining sector and the subjects who maintain balances in their Withdrawal System accounts. They also contributed to the improvement of collection, the implementation of services and facilities to simplify and expedite compliance with tax obligations.
- The relative improvement that would have occurred in economic activity during December 2023, a month linked to the majority of internal tax obligations for which taxes are paid during the month of January.
Likewise, the evolution of imports in the month of January stands out, which would have experienced a growth of around 6.0%, which had a positive impact on the collection of customs taxes, despite the decline in the exchange rate.
- The favorable statistical effect generated by the quarterly payments for withholdings to non-domiciled subjects of the mining sector since the second half of 2023. Added to this is the favorable effect due to a lower comparison base due to the postponements of tax obligations of the MYPES that expired in January 2023.
- Likewise, some variables that affect the results are still recorded, such as the reduction of the coefficients used to calculate the monthly payments on account of the Third Category and the higher balances in favor declared by taxpayers when submitting the Annual Affidavit of the Income Tax. Rent.
Results by taxes
- Income tax: In January, S/ 6,084 million were collected for this concept, an amount that represents a growth of 0.3% compared to the same month in 2023.
Increases were recorded in payments corresponding to Non-Domiciled Income Tax (22.7%), Second Category (17.7%), First Category (12.1%) and Special Income Regime – RER (17.1 %).
- General Sales Tax (IGV): VAT collection reached S/ 8,551 million in January, which represents a growth of 4.6% compared to last year.
The Internal VAT collected S/ 5,617 million, which is equivalent to an increase of 8.6% compared to January 2023. This result is associated with the evolution of internal demand, a favorable statistical effect generated by a quarterly payment by a mining company and the postponement of payment of obligations that occurred in January 2023.
It is worth highlighting that this increase has been achieved despite the lower payments made during the month by companies linked to the production and marketing of gas.
In contrast, the VAT that taxes imports collected S/ 2,934 million, which represents a contraction of 2.4% compared to January 2023. In this regard, although imports in the month of January grew by around 6%, the exchange rate is lower than last year and to this is added that payments for guaranteed imports were lower.
- Selective Consumption Tax (ISC): ISC collection reached S/ 859 million in January, which represents an increase of 2.1%.
The corresponding collection of the ISC that taxes imports increased by 25.7%, mainly due to higher taxed imports and to a lesser extent due to a statistical effect due to the fact that in January 2023 no payments were recorded by a hydrocarbon company. .
For its part, the Internal ISC decreased by 7.4%, due to the performance of the demand corresponding to the products subject to this tax and the higher level of credit applied by a hydrocarbon company.
- Other income: The January collection associated with this item amounted to S/ 683 million, an amount that represents an increase of 16.0% compared to what was obtained in January 2023.
This result was mainly due to the higher payments corresponding to Income as Collection – ICR (125.7%), Subdivisions (14.2%), Temporary Tax on Net Assets – ITAN (40.5%), Simplified Single Regime (5.2%) and the Others item (35.5), attenuated by the decrease in payments for Fines (-27.0%), Tax on Casinos and Slot Machines (-4.7%) and Tax on Financial Transactions – ITF (-2.1%),
It should be noted that the ICR increased as a result of a special control and inspection process implemented by SUNAT during the final months of 2023 and with an impact on the collection of January 2024.
For its part, the collection associated with fines is contracted mainly due to a statistical effect generated by the higher payments registered during January 2023 due to control actions implemented by SUNAT.
- Returns: Tax refunds made during the month of January amounted to S/ 2,061 million, an amount that represented a growth of 2.1% compared to the same month in 2023.
[1] All monetary percentage changes in this document are expressed in real terms, unless otherwise indicated.
#SUNAT #Tax #revenues #grow
– 2024-05-09 22:13:24