LatinNews Daily - 18 May 2021

In brief: Tax take continues to rise in Peru

* Peru’s general sales tax (IGV) revenues increased 74.8% year-on-year in April, according to the central bank (BCRP). Whilst the significant yearly increase can be attributed to the economic downturn caused by the onset of Peru’s coronavirus (Covid-19) epidemic in April 2020, there are also signs of a longer-term upward trend, with IGV revenues increasing by 14.8% compared with April 2019. IGV revenue on domestic sales increased by 74.9% year-on-year (6.3% increase compared with April 2019), and revenue from imports increased by 74.7% year-on-year (27.5% increase compared with April 2019). This was the third consecutive month of increased IGV revenues. According to the BCRP, the increase IGV revenue on imports was driven by an increase in imports of both primary materials and capital goods.

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