The Peruvian government is readying changes to the country's tax system in order to reduce evasion and generate additional revenue, according to a Reuters report on Tuesday.
The package of measures, which are currently being examined by the cabinet, but are said to include plans to reduce the number of industries which are permitted tax exemptions, is likely to meet with stiff opposition from the forestry and agricultural sectors, which benefit most from the waivers.
However, the Peruvian government has admitted that it has a revenue problem, (despite announcing GDP growth of 7.9% in April) and is determined to increase collection without introducing new taxes or hiking existing ones.
The publication of the planned measures coincides with an IMF mission to assess the country's progress towards meeting macroeconomic goals, according to the Reuters report.
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