Tax Revenues Rise 24.4% in Argentina
November 2, 2016 Taxation in Argentina
New information released by the tax authority of Argentina Administración Federal de Ingresos Publicos (AFIP) shows that over the 12 months ending October 2016, the level of tax revenues collected rose by 24.4 percent compared to the same timeframe in 2015.
Over the 12 months tax authorities collected a total of ARS 167.196 billion, compared to the last year’s 12 month total of ARS 134.417 billion.
The significant rise in tax collections is not the highest seen over the course of the year, as total tax collections for the 12 months ending September 2016 were 30 percent higher than in the previous year.
It is widely believed that the continually rising tax revenue levels in Argentina are a direct product of the country’s soaring inflation levels.
Expert estimates place the national level of inflation at approximately 40 percent, however, the government’s own estimates peg inflation at only 17 percent.