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Treasury ‘is surprised’: Exceeds expectation of tax collection by 39 thousand million pesos

The tax revenues from the public sector totaled one billion 456 thousand 49.2 million pesos during the first four months of the year, which exceeded by 39 thousand 775.7 million pesos what was projected in this year’s economic program, reported the Secretary of Finance.

In his report of Public finances and public debt as of April 2022the agency emphasized that, regardless of the IEPS fuelthe accumulated collection to April exceeded the approved amount by 109 thousand 793.4 million pesos.

He specified that within the collection, ISR from January to April was 112 thousand 308.9 million pesos above the program, adding 902 thousand 174.1 million pesos; a real annual increase of 17.7 percent compared to 2021.

While, a total of 400 thousand 401.4 million pesos was collected from VATwhich meant a drop of 3.8 percent in real terms and a lower collection of 20 thousand 988.5 million pesos compared to the program.

The IEPS presented a significant drop by capturing 87 thousand 793.6 million pesosan amount less than what was foreseen in the program in 68 thousand 483 million pesos.

In the January-April period, the budgetary income of the public sector reached 2 billion 274 thousand 411.7 million pesos, an amount higher by 114 thousand 913.7 million pesos than what was foreseen in the program and by 5.9 percent per year in real terms.

In the accumulated to April, oil revenues were located at 416 thousand 132.6 million pesos which meant a positive performance by being above the scheduled figure of 44 thousand 961.6 million pesos, driven upwards by the increase in the international price of crude oil. In its real annual comparison, this item was higher by 42.7 percent in real terms compared to the first four months of the previous year.

During the first quarter of the year, Non-tax revenues were 110 thousand 835.2 million pesos, an amount higher than expected by 23 thousand 908.4 million pesosbut lower by 38.8 percent per year in real terms compared to what was observed in the same period of the previous year.

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