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Paraguay Says Tax Compliance Drive Boosting Revenues

by Mike Godfrey, Tax-News.com, Washington

10 August 2017


Paraguay says it is seeing healthy growth in revenue receipts, mainly as a result of efforts to challenge tax avoidance and evasion.

Revenues were up 10.3 percent in July against the same month in 2016. For the first seven months of the year, revenues were up seven percent.

The Ministry of Finance said the improvement was as a result of various control measures that have been developed or intensified to challenge companies in certain economic sectors that are seen as being a greater fiscal risk.

Value-added tax receipts came in below the upward trend, up 4.7 percent year-on-year. Receipts from the tax on income from commercial and industrial activities (IRACIS) were up 8.6 percent, and receipts from the tax on agricultural income (IRAGRO) and selective consumption tax (ISC) were up 37.1 percent and 25.4 percent, respectively.

TAGS: tax | value added tax (VAT) | sales tax | Paraguay | tax avoidance | individual income tax

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