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Latinnews Daily - 02 February 2018

In brief: Argentina

Argentina: Argentina’s tax authority (Afip) has reported that the national tax-take reached Ar$261.96bn (US$13.33bn) in January, a 11.4% increase compared to the previous month and a 23.9% increase compared to January 2016. An Afip report said that the higher tax take was largely explained by a 45.1% increase in value added tax (VAT) revenue, which points to an increase in domestic consumption levels in the first month of the year. This in turn suggests that overall economic activity in Argentina remains dynamic as the country continues to recover from the economic recession registered in 2016. Last year Argentina’s tax take reached a record Ar$2.53trn, but if the domestic economy performs as expected this year then this record is set to be broken, with the government forecasting that the 2018 year-end tax-take will reach Ar$3.04trn.

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