SAT Reports 59% Tax Collection Surge Since 2018

The Tax Administration Service (SAT) reported a significant rise in tax revenues for January, increasing from MX$298 billion in 2018 to MX$475 billion in 2024, marking a 59% increase over the six-year period.

According to the latest SAT report, tax collection for January 2024 reached MX$475.06 billion, reflecting a 4.7% real growth compared to January 2023, representing an increase of MX$42.5 billion.

However, the actual collection fell short of the projected figures outlined in the monthly calendar forecast of public sector revenues for 2024 by MX$3.17 billion, with an anticipated collection of MX$478.24 billion.

While the report did not provide a detailed breakdown of income tax (ISR) or value-added tax (IVA) collections, the revenue projection published in the Official Gazette on Dec. 5, 2023, estimated ISR revenues at MX$261.49 billion and IVA revenues at MX$125.25 billion for January.

The SAT highlighted that from 2018 to 2024, January tax revenues surged by 17.8% in real terms, from MX$298 billion to MX$ 475 billion. This growth is credited to the continued implementation strategies outlined in the 2024 Master Plan.