RIO DE JANEIRO, BRAZIL – “We will close April with a significant surplus, considering there are ten days left, and we have already reached the same collection of April 2021. We already exceeded the estimate, and we will reach approximately PYG 2 billion (US$293,300)”, commented Paraguay’s Vice Minister of Taxation, Oscar Orué, in a talk with the media.
He recalled that the Corporate Income Tax expired this month, which unites the agricultural and livestock, commercial, industrial and service sectors; therefore, it is an important period in terms of collection.
The challenge for this year is to continue to broaden the tax base, formalize and take advantage of the simplest regimes, such as the Simple and Resimple, within the Corporate Income Tax so that it can be seen that these are very good and accessible ways for people to become formal and get ahead.
The Executive announced in March the extension until June of the reduction of VAT, the Selective Consumption Tax, and the Tourism Regime.
The Vice Minister indicated that he has observed an upturn in economic activities and believes that there will be a recovery of the financial situation in the second half of the year.
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