The data of the Secretariat of Finance and Public Credit (SHCP) revealed that the collection of the IVA it reached 75,158 million pesos in the tenth month of the year, which represented an annual contraction of 16.2% in real terms.
With this result, three consecutive drops in the amount collected by the Treasury through VAT were linked.
The Value Added Tax (VAT) is related to consumption, and this monthly drop was the deepest for an October in 20 years.
This was linked to three consecutive falls in the amount collected by the treasury through the IVA.
Experts agree that the causes of this annual contraction in the VAT collection is attributed, mainly, to the deceleration of the retail consumption and within this sector, food and groceries show falls.
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