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Friday, November 28

Peru Congress approves cut in controversial tax

Peru Congress approves cut in controversial tax: "On Thursday night, Congress approved cutting the 2 percent 'solidarity tax,' -- also known as IES -- to 1.7 percent, beginning next January. Economy Minister Jaime Quijandria is evaluating whether to completely eliminate the tax if a proposed tax on banking transactions generates enough revenue." Forbes / Reuters Lagging tax revenue has always been the weakeness in government policy. A better world economy could provide a big lift because export revenue does not hit as hard at payrolls.



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