IEPS on gasoline left 2,001 million pesos in November

The collection of the Special Tax on Production and Services (IEPS) in gasoline and diesel totaled 2,001 million pesos in November, breaking seven months of red numbers, affected by fiscal stimuli for hydrocarbons.

However, despite the amount, at an annual rate the IEPS collection on gasoline contracted 84.3%, according to data from the Ministry of Finance and Public Credit (SHCP).

“It is positive news in terms of public finances and (the positive collection) is associated with the stimuli for gasoline, which allowed income and not expenses to be observed in this item of the IEPS (…) This recovery opens the possibility to think that in December we could close the year with a slight growth in tax revenues,” Janneth Quiroz, deputy director of economic analysis at Monex, told El Economista.

At the beginning of November, the government decided to gradually lower the fiscal stimulus on the IEPS from 100% to Magna and Premium gasoline.

The analyst explained that the IEPS collection on gasoline and diesel will be higher in December compared to November because it was in the last month of last year when Premium gasoline did not have any percentage of the fiscal stimulus.

less help this week

The SHCP published in the Official Gazette of the Federation (DOF) that the fiscal stimulus for Magna gasoline will be 54.8% from last Saturday, December 31, and until Friday, January 6, that is, consumers will pay 2.6 pesos of IEPS for each liter purchased.

The stimulus for Premium gasoline will be 29.1%, that is, those who buy said hydrocarbon will pay 3.5 pesos of tax for each liter. This broke a four-week trend of 0% fiscal stimulus.

Finally, the tax stimulus for diesel will be 100%, that is, the government will pay the 6.5 pesos of the tax for each liter purchased.

santiago.renteria@eleconomista.mx