BUENOS AIRES (Dow Jones)–Argentina’s tax revenue rose 33.9% from a year earlier to 47.7 billion pesos ($11.3 billion) in September, led by gains in sales and income taxes, national tax agency Afip said Monday.
Revenue from the country’s sales tax rose 33.6% to ARS14.3 billion in September, while revenue from income tax was up 50.8% at ARS8.7 billion and revenue from the financial transaction tax rose 41% to ARS3.5 billion, Afip said.
Tax collection has surged along with an economy that is expected to grow about 8% this year. Annual inflation that most private sector forecasters say is running above 20% and wage hikes of close to 30% won by unions have also helped boost tax revenue.
Revenue from export and import taxes grew 22.3% from a year earlier to ARS7 billion in September.
Total tax revenue for the January-September period rose 32.5% on the year to ARS396.4 billion.
-By Ken Parks, Dow Jones Newswires; 54-11-4103-6740, ken.parks@dowjones.com
–Alberto Messer contributed to this article.
Source: /online.wsj.com