Economy & Business - June-July 2012 (ISSN 1741-7430)

After a long six-year wait, Paraguay’s congress has finally approved the pending implementation of a personal income tax (IRP). The decision came just days after the impeachment and removal of president Fernando Lugo (2008-2012), who had to suspend the introduction of the tax after congress refused to commit to the implementation of a levy considered crucial to the country’s economic development. Following Lugo’s impeachment it seems that congress-executive relations might be more productive, at least between now and the next scheduled elections in April 2013.

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