Income tax collection grew 66.6% in April this year compared to the same period in 2021, mainly due to higher payments for regularization of legal entities, for taxable year 2021, the
Central Reserve Bank of Peru (BCR) reported on Wednesday.
The BCR said that such regularization reached a record high for that month between 2003 and 2022.
The issuing entity stated that the income tax collection from natural persons rose 52.6% between April 2021 and the same month in 2022, reflecting growth in all income categories.
Dividends
The Central Bank particularly underlined the second category (dividends), due to withholdings on the distribution of profits and dividends, and the fifth category (income tax collected from anyone who is paid for work).
In April, the income tax collection from legal entities grew 55.5% compared to the same month in 2021.
Payments from legal entities domiciled in Peru increased 56% year-on-year, while payments from non-domiciled taxpayers rose 53%.
Regularization
Moreover, income from regularization of income tax increased 78.9% year-on-year, due to higher profits in taxable year 2021.
In January-April 2022, income tax collection grew 54% compared to the same period in 2021.
Income tax collection from natural persons rose 37.7%. In the case of legal entities, it increased 32.1%, and due to the regularization, it increased 98.8%.
(END) NDP/SDD/RMB/MVB
Published: 5/18/2022