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LatinNews Daily - 15 September 2021

In brief: Peru sees booming sales tax revenue in August

* Peru’s central bank (BCRP) has announced that the tax take from Peru’s general sales tax (IGV) amounted to PEN$7.02bn (US$1.70bn) in August, representing a year-on-year increase of 56.7%. Whilst part of that increase can be attributed to reduced consumption in August 2020 caused by the coronavirus (Covid-19) pandemic, the August tax take was also 32.5% higher than the pre-pandemic figure recorded in August 2019. The BCRP stated that the improved year-on-year tax haul was principally due to increased IGV revenue from imports (+98%), with IGV on domestic products playing a lesser role (+30.5%). August marked the seventh consecutive month of rising IGV revenue, with the January-August period seeing a 45.7% year-on-year rise in IGV income.

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