During the first two years of government Javier Mileythe structure of tax collection has undergone significant changes. The priority of the executive authority was to reduce the tax burden on foreign trade, a measure that the productive and financial sectors have long demanded.
Of the three main components of national tax revenue, Only the resources generated by customs have lost their importance in the Temple, while those who received DGI and Anses received participation.
This phenomenon reflects a deliberate change in the direction of fiscal policy: the government sought to encourage foreign currency generation, facilitate the import of investment goods and reduce anti-export bias.
One of the distinctive features of the Miley administration is the elimination, from day one, of the large inherited fiscal deficit, without affecting the provisions of social support.
The government sought to encourage foreign exchange generation, facilitate the import of investment goods and reduce anti-export bias
This achievement assumes greater importance because it was achieved in conjunction with the anti-inflation policy, which reduced the so-called inflation tax to a minimum, reduced or eliminated various national taxes, including deductions from regional exports, the state tax, and reduced import tariffs, especially on capital goods.
In 2024 and 2025, tax pressure and state-administered contributions, as a percentage of GDP, fell to the lowest level in almost two decades. This has translated into a historic tax break for the community and businesses. Considering only the revenues managed by the current customs collection and control agency (Directorate General of Customs, Customs and Customs), the equivalent of 22.5% of GDP in November 2023, to 21.6% the following year and 18.2% currently.
This trend is also verified when comparing wider periods: if the total collected in the eleven months preceding Miley’s inauguration is taken and compared to the same months of the two subsequent years, a decline of close to 1% of GDP is obtained, which is equally significant.
The difference between both measures is explained, mainly, by the effects of asset laundering, the gradual and then permanent reduction of detentions on exports – which are removed for products from regional economies – tariff reductions and reductions in customs duties. Abolition of state tax In December 2024.
Fiscal relief allowed for an increase in the purchasing power of the population for imported and national products, and additional incentives for investment in regions with export potential, although for some industrial branches the fiscal adjustment did not succeed in reversing decisions to close factories or sell assets.
The decline in tax pressure was evident almost exclusively in taxes on taxes Foreign trade -Deductions and tariffs- And buy currencies. The share of customs in total resources decreased from 23.2% in November 2023 to 17.6% after two yearsAnd from 23.7% to 20.6% in the cumulative period from January to November of each period.
Tax exemption allowed to increase the purchasing power of the population for imported and national products
The end of the PAIS tax on savings and expenditures abroad, which was implemented at the end of December 2024, marked a collapse in the income structure: this tax now represents 5.2% of total collections in 2024.
On the contrary, income from export duties – despite the permanent reduction in their rates and the elimination of regional sectors – rose in 2024 due to the recovery of the harvest after the drought: it rose from 3.1% to 4.6% and then fell to 4.1% in 2025. Taking November alone, these taxes rose from 2.2% to 4.5% and fell to 1.5% in 2025, due to progress in Settlement and changes in incentives. policy.
The weight of the Import dutiesMeanwhile, it rose from 3.1% to 3.7% of total income during the study period and from 3% to 3.8% in November, driven by the reactivation of imports of cars, consumer goods and used machinery, as well as national industry inputs.
The liberalization of imports, the end of administrative restrictions, and the increase in foreign trade led to value-added tax revenues and corporate profits related to this activity remaining high.
The liberalization of imports, the end of administrative restrictions, and the increase in foreign trade led to an increase in value-added tax and customs revenues.
At the same time, the relationship between revenues from exports and imports showed jumps: it rose from 71.2% to 159% – November 2023 to November 2024 – and then decreased to 40.1%, remaining high in the cumulative average for the year.
At the same time, DGI has increased its participation: From 55% to 57.8% on a monthly basis, and although it decreased slightly in the annual accumulated, it was preferable More oversight and economic recovery. The items that gained the greatest weight in internal collection were fuel (due to the gradual restoration of the tax burden), VAT and bank debts and credits.
Regarding the latter issue, pressures for its removal remain strong. During a special meeting with journalists Diego RivasThe CEO of Banco Galicia highlighted the need to strengthen labour, tax and pension reforms to improve competitiveness, saying: “It is necessary to abolish distorting taxes such as the tax on debts and credits, which make operations more expensive and stimulate informal activity. Credit to the private sector amounts to barely 12% of GDP, which is much lower than the region; if the capital market for long-term productive projects is encouraged, this value could be quadrupled.”
On the contrary, the returns from… Personal property The total weight was lost – from 2.3% to 1.1% – due to the effects of bleaching and reducing aliquots.
AnasFor its part, its share of the tax pie has grown: it rose from 21.8% to 24.5% and from 22.1% to 25.1% in the comparative annual analysis, which is a direct effect of the tax. Average salaries improved official.
In the coming months, attention will focus on the 2026 Budget and how the national government plans to maintain the trajectory of declining rates, accommodate new social demands and drive economic growth.
Both Javier Miley and the Minister Louis Caputo They insist that the administration aims not just to eliminate the “inflationary tax,” but to achieve it Lower real tax burdenWith a focus on tax reductions on foreign trade and promoting a more competitive environment for companies and producers, and a proportional increase in resources allocated to ANAS.
The final image is of a national state that has resigned from the pressure of tax collection on the economyWith an extraordinary transfer of resources into the productive network and greater potential to stimulate private consumption and investment.
but, Removing the check tax remains the biggest issue on the business banking agenda and the ongoing demand for the next phase.
The shift in the collection structure opens a new phase for the economy, although it is not exempt from it Challenges related to how to maintain public accounts surplus with a lower tax weight On businesses and consumers.