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LatinNews Daily - 05 October 2020

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In brief: Tax take continues to fall in Uruguay

* Uruguay’s tax authority (DGI) has reported that the net tax take for the month of August was Ur$36.1bn (US$848m), a 2.6% year-on-year fall. This was the fifth consecutive month in which the DGI’s net tax take has decreased after falling 9.9% in April; 19.2% in May; 3.4% in June; and 0.3% in July. The negative trend is attributed to the fall in economic activity in the country stemming from the coronavirus (Covid-19) pandemic. According to a DGI report, there was a 33.9% annual increase in the Impuesto Específico Interno (Imesi) tax levied on goods including petrol fuel, vehicle purchases, alcoholic drinks, and tobacco. However, the increase in the Imesi could not offset the 4.1% fall in the value-added tax (VAT) take reported in August.