Argentina 2019 tax revenue up 48.5% but ca. 7 points below inflation

Argentina collected 492 billion pesos ($8.2 billion) in tax revenue in December, up 53.9% versus the same month a year earlier, the Federal Public Revenue Administration (AFIP) reported. Thus full-year 2019 tax revenues climbed 48.5% to just over 5 trillion pesos. Inflation in 2019 is estimated at 55%, which implies a real drop in revenue close to 7 points. “Tax revenues were affected in 2019 by the economic recession and the deterioration in labour market indicators,” says the report.

Read more

Source: La Nación