Tax collection grew 6.7% in February; income tax withholding sustained public finances
Tax collection in February registered a growth of 6.7% compared to the same month last year, marking a positive start to the year in the country's fiscal revenues...
TL;DR
- February tax collection grew 6.7% year-over-year.
- There was a 52% drop from January to February due to seasonal tax payments.
- Accumulated collection from January to February reached $55.19 trillion, exceeding previous year's figures and official projections.
- Withholding tax was the primary source of revenue in February ($7.9 trillion), representing 44.9% of the total.
- Customs duties contributed $3.8 trillion (21.5%), and income tax added $2.5 trillion (14.5%).
- Taxes from domestic economic activity accounted for 78.55% of collections, while foreign trade taxes made up 21.45%.
- The government aims for a total collection of $312.8 trillion by December.