Tax revenue amounted to ARS2,307.476 billion in December 2022, which implied a growth of 95.6% year-on-year (YoY). As a result, the annual total was ARS19,982.483 billion, an increase of 81.6% year-on-year (YoY), implying an inflation-adjusted expansion of 5.2% YoY.
In terms of the cumulative amount for the year, the most important increases in real terms were in Income Tax (15.6% YoY), VAT (4.2% YoY), Tax on Credits and Debits (3.9% YoY) and the PAIS Tax (84.4% YoY). Social Security revenues grew 5.2% YoY, whereas Export Duties decreased 2.2%.
An analysis of the performance of tax revenues during 2022 is presented in this report. In addition, the main causes of variation are described, among them, the legislative changes that have had an impact on tax collection.
In general terms, the increase in tax revenue in real terms reflected the recovery in economic activity, leaving behind the restrictions generated by the Covid-19 pandemic, which was reinforced by the increase in international prices of commodities as a consequence of the war between Russia and Ukraine, in addition to a global inflationary context and the return of certain limitations on the supply side and bottlenecks in logistics.