November collection grows 43.4% after adding S / 13,034 million for Income Tax and VAT

The collection in November reached S / 13,034 million of net central government tax revenues (discounting tax refunds), which represents an increase of 43.4% and 27.9% compared to that same month in 2020 and 2019 respectively, reported the National Superintendency of Customs and Tax Administration (Sunat).

In accumulated terms, between January and November 2021, S / 126,253 million have been collected, which is equivalent to a growth of 45.2% compared to the similar period of 2020, and of 17.9% compared to 2019, detailed Superintendent Luis Enrique Vera Castillo.

According to the collecting body, the factors that influenced the greater collection November saw the recovery of national economic activity, with significant increases in gross domestic product (GDP) and domestic demand in October (activity for which it is declared and paid in November) that would have exceeded expectations and marked a contrast with the reductions recorded during 2020.

Also for the extraordinary payments of almost S / 1,100 million, most of which are the result of control and collection actions carried out by the call, highlighting the payment of S / 685 million for VAT and fines by a mining company. Additionally, payments close to S / 300 million were recorded as a result of business reorganization operations.

Also due to higher payments for third category Income Tax, especially by companies in the mining sector, linked to international prices of metals (in particular, copper) and the higher exchange rate.

Another factor for this rise is the greater collection from taxes customs duties, especially for the VAT on imports, due to the increase in imports, which in the month of November would have registered a growth of around 30%, as well as the increase in the exchange rate.

Income tax

In November, S / 4,164 million were collected in Income Tax, a figure that represents an increase of 41.7% compared to the same period in 2020.

This result mainly reflects the higher payments on account of the Third Category Income Tax of the General Regime (RG) and the Mype Tax Regime (RMT), which increased together by 41.9%.

Also noteworthy were the higher payments for Non-Resident Income Tax with a growth of 87.9%, generated mainly by some extraordinary payments; followed in importance by the highest second category rent payments (114.3%) and Fifth Category that registered a growth of 12.1%, reflecting the gradual recovery of this concept after the contraction of 2020.

General sales tax

The collection for General Sales Tax (IGV) amounted to S / 7,481 million, an amount that represents an increase of S / 2,057 million with respect to that registered in November 2020 and of 30.5% in percentage terms.

The Internal VAT increased by 21.9% and collected S / 4,145 million, an amount that exceeded by S / 927 million that collected in November 2020. For its part, the VAT on imports amounted to S / 3,336 million and registered a growth of 43.1%.

Other items

The collection The Selective Consumption Tax (ISC) registered a 6.2% growth, reaching S / 851 million. This result was explained by the higher Internal ISC that grew 11.3%, while the ISC paid on imports maintained levels similar to those of 2020.

Also, the collection for the item of Other Income amounted to S / 1,885 million, an amount that represents a growth of 65.1%. The result obtained was mainly due to the higher payment of fines (153.2%) associated with control actions of the call; Fractions (51.8%) and Special Mining Tax – IEM (250.3%).

In addition, in November the tax refunds made amounted to S / 1,504 million, an amount that represented a decrease of 8.5% compared to November 2020.