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UPDATE: Argentina's October Tax Revenue Tops Government Expectations

BUENOS AIRES -(Dow Jones)- Tax revenue last month surpassed the Argentine government's expectations as consumers bought more goods and services.

The government collected 8.8% more revenue in October than it did a year ago, a Treasury official said Tuesday.

Tax collection totaled 26.416 billion pesos ($6.9 billion), Treasury Secretary Juan Carlos Pezoa said.

A year ago Argentina collected ARS24.277 billion in tax revenue, according to data from the tax agency, AFIP.

"The result surpassed expectations," he said. "That's because of an improvement in consumption."

Net income from the value-added taxes rose 6.6%, while income taxes revenue rose 4.7%.

Net VAT income was ARS7.68 billion in October, compared with ARS7.2 billion a year earlier.

Income tax revenue totaled ARS4.9 billion, up 4.7%.

Pezoa said taxes on imports declined at a slower place last month, indicating the possible end of a negative trend.

Still, import tax revenue fell 12.6%, to ARS745 million, while export tax revenue fell 21.3%, to ARS2.964 billion.

The data was published just hours after Economy Minister Amado Boudou said he would send a bill to Congress to change tax rates for millions of self-employed workers.

Among other things, the changes aim to curb tax evasion.

-Taos Turner, Dow Jones Newswires; 5411-4103-6728; taos.turner@dowjones.com

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