Feb 4, 2011
6:00:00 AM
| Last Updated
Total tax revenues came in above expectations, growing by 40.5% y/y to ARS40.8 billion in January (consensus and RGE: around ARS38.6 billion). Government income benefited from strong (43% y/y), value-added tax (43% y/y) and social security contributions (32% y/y). Moreover, trade taxes jumped by 56% y/y (40% y/y 3MMA), as exports (56% y/y) and import taxes (59% y/y) accelerated on the back of high commodity prices and strong domestic demand. Adjusted for official inflation, tax revenues increased by 26% y/y versus 24%[...]
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