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Home Economy

Mexican economy: IEPS tax collection on fuels due to subsidies falls 60.5%

March 31, 2022
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The forecast of income for the collection of VAT in this first two months of 2022 was not met, nor through the special tax on production and services (IEPS), this due to the subsidy that was had on gasoline with the stimulus according to the Public Finance and Debt report.

The goal could not be reached

With this, it was not possible to reach the goal for the total collection of taxes corresponding to the period of January and February of this year for the federal government. Since 695 thousand 48 million pesos were expected in the first two months of the year and only entered 660 thousand 97 million pesos, this according to what was announced by the Secretary of Finance and Public Credit (SHCP).

The VAT fell short with 33 thousand 996 million pesos, since it had been programmed that income would be generated by this route of 230 thousand 172 million pesos and only 196 thousand 175 million pesos were captured.

other lien what went wrong was the IEPS; in the SHCP they calculated income of 82 thousand 559 million pesos for January-February of 2022, but finally they were 60 thousand 613 million pesos.

The income tax (ISR) was exceeded

On the contrary, the collection of the income tax (ISR) exceeded with 16 thousand 788 million pesos, what was scheduled for the first two months with a total of 375 thousand 135 million pesos, compared to 358 thousand 347 million estimated weights.

Similarly, import tax revenues were higher than expected: 12 thousand 173 million pesos had been forecast and a total of 14 thousand 438 million pesos were collected.

MV

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Tags: CollectioncompaniesdueEconomyfallsfuelsIEPCIEPSIndicatorsMexicanMexican EconomyMexicoSATSHCPstatesubsidiestaxtaxesVAT

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