February tax revenue totaled AR$330.89 billion, which implied a nominal year-on-year increase of 40.4% and of 39.6% with respect to the first two months of last year.

In real terms, it declined 6.9% against February 2018, although the fall in inflation-adjusted tax resources was softened as of December.

Income Tax had a real recovery of 1.3%, and together with Wealth Tax and Export Duties, were the ones with the highest year-on-year increase.

Value Added Tax recorded a year-on-year decline of 11.5%, basically due to the fall in imports and the reduction of some taxes on foreign purchases and the lower level of activity.

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