According to the information presented by the Tax Administration Service (SAT), it indicated that January to May 2022 the authorities stopped collecting around 94 thousand 507 million pesos for the concept of Special Tax on Production and Services (IEPS)this in comparison to the same period of 2021.
“Given the general increase in the price of energy, the collection of the IEPS from January to May 2022 presented a decrease of 54.3% real. The actual growth of tax revenue would have been 10.6% if the IEPS on fuels affected by the price adjustment mechanism in energy to reduce inflation was not considered, ”said the SAT.
However, despite the decrease in the amount collected in the IEPS, the SAT reported that the total tax collection observed during the first five months of the current year exceeds 3.3% to what was recovered during the same period in 2021.
From January to May, the Income Tax (ISR)reported a real increase of 15.8%compared to the first five months of the previous year, this derived from the annual declarations of the taxpayers.
During this period, there was a collection of 507 thousand 113 million pesos due to VAT collection, a decrease of 0.1% in real terms compared to 472 thousand 472 million pesos for the period January-May 2021. Likewise, the total income of the government was 2,081 billion pesoswhich means a actual increase of 1.2% compared to 1.91
Total government revenue was 2,081 billion pesosa real increase of 1.2%, compared to the 1.91 billion pesos recorded from January to May last year.
Treasury maintains fiscal stimulus from June 11 to 17
For a new consecutive week, the Ministry of Finance and Public Credit (SHCP)implemented a fiscal stimulus to control the price of gasoline, with the aim that drivers do not pay the Special Tax on Production and Services (IEPS)in the midst of inflation in the prices of inputs at the international level.
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The fiscal stimulus for the IEPS will be 100 percent for all fuels and will be applicable Saturday 11 and will end next Friday June 17it should be noted that since mid-March, the tax authority has implemented fuel discounts in order to help the pockets of Mexican families.
From the week of March 12 to 18, the federal authorities implemented discounts to Special Tax on Products and Services (IEPS)this in the middle of war between Russia and Ukrainebecause the war between the two countries generated an increase in the price of fuel, so the government created tools so that Mexican families were not affected.
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