PREVIEW-Argentina's Oct tax revenue seen rising 7.4 pct - News

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PREVIEW-Argentina's Oct tax revenue seen rising 7.4 pct

By: AFX | 30 Oct 2009 | 10:09 AM ET

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By Walter Bianchi BUENOS AIRES, Oct 30 (Reuters) - Argentina's October tax collections are seen rising 7.4 percent from a year ago, pushed up by social security inflows, analysts said. A Reuters poll of six local analysts put October's tax take at a median 26.08 billion pesos ($6.8 billion), compared with 24.28 billion pesos in the same month of 2008. Estimates ranged from 24 billion pesos to 26.78 billion pesos and the average outlook was for 25.89 billion pesos. "Argentina's tax revenue keeps rising, supported by higher social security inflows," said Alfonso Martinez, an analyst atEspert & Asociados, an economic consulting firm in Buenos Aires. According to Martinez's estimates, social security inflows grew about 46 percent last month. Higher overall expenditure and a rebound in export taxes are also likely to contribute to the increase in October revenue, he added. Argentina took control of the private pension system in November 2008, allowing the state to take over about $24 billion in retirement funds and manage monthly contributions from workers' salaries. State tax receipts totaled 26.23 billion pesos in September, down from a tax take record of 27.29 billion pesos in May. A monthly poll by the central bank put October's revenue figure at 26.53 billion pesos. The government is expected to release October's tax data on Monday, although the date has been delayed by up to three days in recent months. ($1=3.83 Argentine pesos) (Additional reporting by Jorge Otaola, Writing by Vivianne Rodrigues, editing by W Simon ) Keywords: ARGENTINA ECONOMY/REVENUE (buenosaires.newsroom@reuters.com; Tel: +54 11 4318-0633; Reuters Messaging: vivianne.rodrigues.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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