Argentine tax revenue surged 36.3 percent in November from a year earlier due to a higher take from value-added, income and export taxes, the government said on Friday.
November's tax receipts came in at 13.79 billion pesos ($4.47 billion), above the median forecast of 13.26 billion pesos given by 13 local and international analysts, whose estimates ranged from 11.30 billion pesos to 13.80 billion.
"This is indicative of the economy's good growth rate, good growth in foreign trade and an improvement in company earnings," Economy Minister Felisa Miceli said in a televised news conference. The government reported tax revenue of 13.36 billion pesos in October, an historic record for the month, and 10.11 billion pesos in November 2005.
Last month, revenue from the country's export taxes surged 70 percent from a year earlier, while company income taxes jumped 40 percent and the Value-Added Tax rose 21 percent, tax agency chief Alberto Abad told reporters.
Abad said that from January through November, the government collected 14 billion pesos more than what was expected in the budget, surpassing the government's annual target of 133.15 billion pesos.
Argentina reaped record tax receipts in 2005 of 119.25 billion pesos. Strong revenues have helped the government sustain a hefty primary budget surplus in the last few years. The Argentine economy grew 8.4 percent in the first nine months of this year and is on track to seal its fourth straight year of surging growth.