Peru is also another country in the World feeling the effects of the recent downturn in the global market place.
Peru’s central government tax and customs revenues totaled 5.85 billion soles ($1.98 billion) in April, a 17.8% real decrease from the year before, tax agency Sunat said late Wednesday.
The decline is due to slowing economic growth, weaker taxes on imports of goods, and to a decline in income tax payments, the agency said.
The agency said tax revenues, excluding some social contributions, totaled PEN5.33 billion in April, a 13.3% real decline from the year earlier period.
The agency said customs revenue totaled PEN1.13 billion in April, a decrease of 27% in real terms over the same period a year earlier.
The overall number for collections can be less than the addition of tax revenue and customs revenue due to tax refunds.
The Sunat said income tax collections fell a real 21% to PEN3.14 billion in April over the previous year.
Collections of the value-added tax, or IGV, in April were PEN2.31 billion, a decrease of 13.5% in real terms from the previous year period.
Peru’s gross domestic product expanded some 9.8% last year and is expected to expand between 3.0% and 4.0% this year.
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