New figures from the Federal Public Incomes Administration (AFIP) have revealed that October’s tax revenues totalled 104.6 billion pesos, an increase of 40.8 percent compared to the same period in 2013.
Although October is not generally a noteworthy month, this time big increases were registered; such as Income Tax which grew 63 percent to contribute 24.27 billion pesos,» AFIP president Ricardo Echegaray informed during a press conference held alongside Treasury secretary Juan Carlos Pezoa.
The head of the tax agency maintained that the sharp rise in revenues from that tax was due to stricter control, in particular over taxpayers who were abusing the deductions system.
Exportation Rights also saw a steep climb, totalling 7.3 billion pesos (a rise of 86%) due to a strong growth in cereal and soy product sales. Import Rights, on the other hand, grew just 21 percent compared to October 2013.
Across 2014 the AFIP has received 959.25 billion pesos, 35 percent more than in the first 10 months of the previous year. Echegaray was confident that the entity would reach the trillion peso milestone before the end of the year.
Source:Buenos Aires Herald