Febraury Tax revenue jumps 28.8%, AFIP says

AFIP head Ricardo Echegaray revealed yesterday that February’s tax revenue was 60.89 billion pesos (US$12.05 billion), up 28.8 percent from last year. The government also reported that proceeds from value-added tax (VAT) rose 32.8 percent in February from a year earlier to 18.23 billion pesos.

Following Echegaray’s announcement, PRO Deputy Julián Obiglio asserted that the rise stems from “inflation and an unbearable tax burden.” He assured that a “stagnating economy and a 28.8 percent rise in revenue collection, here and in any part of the world is called inflation,” and that the government thus “denies the most basic economic theory,” showing “total incompetence in the management of the economy.”

Obiglio maintained “wage hikes are no longer enough and the tax burden is unbearable,” and claimed “celebrating because inflation allowed for increased revenue collection is cheating when playing solitaire.”

“The government should worry about generating an environment of trust... so that those who still have savings can invest in production,” he argued.