Argentina's July tax revenue rose 28 percent from a year earlier to a record 61.32 billion pesos ($13.4 billion), the tax agency said on Friday, confirming figures announced by President Cristina Fernandez a day earlier. The figure beat a 58 billion peso median forecast given by analysts polled by Reuters, whose estimates ranged from 57.28 billion pesos to 59.34 billion pesos.
June's tax revenue rose 20.6 percent year-on-year, which many economists said was below the real inflation rate and reflected a sharp slowdown in Latin America's No 3 economy. In July, the AFIP tax agency said revenue from the Value-Added Tax (VAT) rose 17.6 percent from a year ago, while individual and corporate income tax receipts grew 26.7 percent. Levies on the country's exports, which mainly affects grains and oilseeds, jumped 50.1 percent last month, AFIP chief Ricardo Echegaray told a news conference. Argentine farmers recently finished harvesting the 2011/12 soy crop and they are almost done gathering corn as well. The country is a leading global supplier of corn, soy and wheat and the top exporter of soyoil and soymeal.
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