Overview
- ARCA reported total 2025 tax collections of about $183.1 trillion, a 39.4% year-over-year nominal increase versus 2024.
- December revenue reached roughly $16.53 trillion, up 27% nominal but about 3% lower in real terms, marking a fifth straight real decline.
- IARAF’s Nadin Argañaraz estimates an overall 1% real drop for 2025, turning into a 4.5% real rise if trade-related taxes are excluded after the PAIS removal and lower export retentions.
- ARCA noted that extraordinary inflows in 2024 distorted comparisons and said 2025’s nominal variation would have been near 50% without those one-offs.
- Revenue growth was concentrated in VAT, income tax and social security, while export duties slumped sharply and import duties showed one of the few real gains.