Federal Public Incomes Administration (AFIP) head Ricardo Echegaray has announced that tax revenues for July reached record levels, bringing in 145.99 billion pesos in an increase of 36.3 percent on the same month last year.
Echegaray released the latest figures from the tax agency during a press conference at AFIP headquarters, alongside Finance secretary Juan Carlos Pezoa.
The seventh month of the year saw positive data from value-added taxes, which raised 35.91 billion pesos to rise 28.3%. Social Security contributions were up 40.7% to 45.09 billion pesos, while income tax revenue jumped 52% to net $33.33bn for the AFIP.
Debit and credit charges reached $8.82bn, a growth of 27.5%. For Echegaray, this rise demonstrated «that economic activity is becoming more formalised in the system.»
So far in the year the revenue agency has received $867.05bn, almost 30 billion pesos higher than the target set for this point in 2014. The AFIP head also pointed out a «decrease in evasion of tax obligations,» which has fallen from 6.1% in January to 4.4% in the last month.
Source: Buenos Aires Herald