Mexico.- This Thursday, the Ministry of Finance and Public Credit (SHCP) announced that, in the period of January to May of the current year, public revenues were mainly driven by the collection of Income Tax (ISR) and by the import tax.
The high figures in these two taxes, pointed out the federal agency headed by Rogelio Ramírez de la O, made it possible to counteract the stagnation in collection through the Value Added Tax (VAT) and the 92.2% drop suffered by the Special Tax on Production and Services (IEPS) for fuel subsidies.
According to the report on the Public finances and public debt as of May 2022 of the SHCP, the public budget revenues totaled 2 thousand 745 billion pesosan amount that is 98 thousand 417.2 million pesos higher than that contemplated in the program, which represents an increase of 4% in annual terms.
“Within tax revenues, the favorable behavior of the ISR and the tax on imports stands out, which showed real annual growth of 15.5 and 25.6%, respectively,” he said.
Meanwhile, tax collection was placed at 1,748 billion pesos, that is, it exceeded the amount guaranteed by 20 thousand 873.2 million pesos, while representing a growth of 3.3% in real terms compared to the first 5 months of 2021 .
“Within tax revenues, the ISR observed during January-May was 112 thousand 604.4 million pesos above the programmed and registered a real annual increase of 15.5%, showing 6 consecutive months of growth. For its part, the VAT collection remained constant in real terms in the annual comparison, although it was below what was forecast for the period at 5 thousand 925.1 million pesos,” details the report published on the official website of the Federal Government.
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For its part, the Treasury reported that, as of the fifth month of this year, non-tax revenues were located at 132 thousand 982.1 million pesosa figure higher than expected by 30 thousand 741.8 million pesos, however, lower by 34% annual real.
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