Paraguay’s tax revenues for the month of November closed with a balance of USD 78million more than the same month last year, which represents an increase of 20.1% in the collection, according to the latest report from the National Directorate of Tax Revenue (DNIT).
With this result, the accumulated increase in Paraguay’s tax revenues since the creation of the DNIT to date amounts to a total of USD 948.5 million.
This sustained increase in customs and tax collections has occurred since the merger of the National Customs Directorate and the State Undersecretariat for Taxation into the DNIT, an institution that has introduced improvements in controls and strengthened investment in technology.
“As a result of the policy of formalisation, the fight against smuggling and the revitalisation of the economy promoted by the government, there has been a sustained increase in tax collection by the DNIT,” said the Government Spokesperson when giving the figures for the end of November.
By the end of the year, the DNIT expects Paraguay’s tax revenues to exceed 1 billion dollars, considering that this last month will see greater commercial activity and therefore an increase in tax and customs revenues.
Additionally, the DNIT plans to strengthen controls against tax evasion and smuggling by the end of the year, as announced by the director general, Oscar Orué.
