* Peru’s tax agency (Sunat) has announced that tax revenues decreased by 13.1% year-on-year in August, as the PEN7.1bn (US$2bn) collected was PEN928m less than the figure for August 2019. Sunat attributed this decline to reduced economic activity as a result of the coronavirus (Covid-19) pandemic, and to tax relief measures enacted by the government in response to this economic decline. The 13.1% decrease, however, represents a slowdown in the downward trend of tax collection for this year; tax revenues declined by 41.2% year-on-year in April, at the height of Peru’s lockdown, but have since started to recover.
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