The Government reported that tax revenues grew 31.8%

Buenos Aires, January 4, 2012
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Tax revenue grew by 31.8% in 2011 over the previous year, reaching 540.134 million pesos, according to the national government.

In 2010 the figure had been $ 409,900, increasing in 2011 $ 130,234 million.

“Profits tax showed a 41.7% increase, reaching record values that match the specific policy of the AFIP. These results need to be kept, because they record,” said the head of the Federal Administration of Public Revenue (AFIP) Ricardo Echegaray.

“The growth of 34.6% in the year reflects not only increased economic activity, but also the growing formalization of banking and commercial operations,” he added.

Inflation

Asked about this point as the reason for the increase, Echegaray only said “it is one of the elements.”

“Anyway,” he added, “The revenue growth is above any study of inflation by private consultants.”