Argentina Nov tax revenue jumps

BUENOS AIRES, Dec 2 (Reuters): Argentina's November tax revenue jumped 29.9 per cent from a year earlier to 47.28 billion pesos ($11.03 billion), the government said Thursday. The official tax-take data came in slightly below expectations of 47.82 billion pesos in revenue, according to the median forecast in a poll. Tax revenue has surged year-on-year due to rapid economic growth, relatively high prices for Argentina's grains exports and double-digit inflation. Levies on bank account debits and credits accounted for the biggest percentage increase in November, surging 45.5 per cent to 3.35 billion pesos, the AFIP tax agency reported. The head of AFIP, Ricardo Echegaray, attributed this to more on-the-books economic activity. Personal and corporate income tax revenue jumped 43.8 per cent to 9.20 billion pesos, while the value-added tax (VAT) grew 41.9 per cent year-on-year to 15.09 billion pesos.