Customs contributed 65% of VAT collection, at the end of October

Of the 943,054 million pesos that the Treasury obtained from the Value Added Tax (VAT), more than 620,641 million pesos entered through customs. This represents 65% of the collection of this consumer tax at the end of October.

The explanation is presumably that one of the most important activities of the Tax Administration Service (SAT) has been the fight against undervaluation, this is to prevent importers from declaring a lower value in the merchandise, said Juan Antonio Castro, a member of the commission Foreign Trade Technician from the College of Public Accountants of Mexico.

Likewise, the SAT has increased the perception of risk and control; and with this, perhaps, it achieves that the value is higher despite the fact that there are fewer operations, Antonio Castro commented in an interview.

The maritime customs are the ones that collected the most when entering 276,200 million pesos for VAT; This is an increase of 28.7% compared to the same period in 2020, according to SAT figures.

The port of Manzanillo, Colima, collected more than 103,081 million pesos; of which 80,560 million pesos are from VAT. In annual comparison, the tax registered an increase of 35 percent. Likewise, of the 17 maritime customs offices, only eight had annual increases.

For their part, border customs reported more than 241,009 million pesos for VAT; and those of the interior of the Republic 103,431 million pesos. Both showed annual increases of 33.5 and 15.5%, respectively.

The border customs office of Matamoros, Tamaulipas, ranks first among border customs because it entered more than 127,226 million pesos. Given this, VAT represented 83% of the total with 106,149 million pesos.

At the same time, the SAT reported that customs helped to collect more than 817,880 million pesos in total (VAT, IEPS and Others). This represents 27.7% of the total of the 2.9 billion tax revenues reported at the end of the 10th month of 2021.

According to Horacio Duarte, general administrator of Customs, these will contribute 1 billion pesos to the treasury throughout 2021.

For now, they present an average collection of 68,157 million pesos per month.

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