UPDATE 1-Argentina April tax take leaps on inflation, exports

lunes 5 de mayo de 2014 16:21 GYT

(Adds breakdown of revenue, background)

BUENOS AIRES May 5 (Reuters) - Argentina's tax revenue rose by a more than expected 37.1 percent in April from a year earlier to 92.74 billion pesos ($11.6 billion), government data showed on Monday, fueled by rampant inflation and exports from a record soy crop.

The tax take reading came in well above the median forecast for a 29.7 percent rise to 87.719 billion pesos in a Reuters poll of analysts.

The increase can largely be explained by double-digit consumer price increases in Latin America's No. 3 economy. Private economists expect annual inflation of more than 30 percent this year.

A sharp drop in the value of the currency since the start of the year also contributed to the increase in peso-denominated tax receipts from exporters reaping in dollars. Tax revenue from export duties jumped 64.8 percent on the year in April, the government data showed on Monday.

Argentina is the world's No. 3 soybean exporter, and with the harvest underway, a record 2013/2014 soy crop is boosting exports.

($1=8.0025 Argentine pesos) (Reporting by Alejandro Lifschitz; Writing by Sarah Marsh; Editing by James Dalgleish; and Peter Galloway)