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Paraguay Business Report
General information
Source: The World Factbook - Central Intelligence Agency
Population
7,025,763 (July 2018 est.)GDP (PPP)
$88.9 billion (2017 est.)Commodities represent a large part of the export. In particular, Paraguay is the fifth largest soy producer in the world
GDP growth rate
4.8% (2017 est.)High growth, but unstable. Strongly dependent on agriculture commodities prices and weather
GDP (PPP) per capita
$12,800 (2017 est.)Very low. High income inequality
Local currency
Guarani (PYG)Quite stable in the past 4 years
Financial stability (Public debt)
19.5% (2017 est.)Very low
Inflation
3.6% (2017 est.)A bit high, but quite stable
Language
Spanish and Guarani both officialEnglish is spoken as a second language in the main urban areas
Corruption perception index (Source: Transparency International)
Rank 132/180High level of corruption
Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
10% standard VAT rate5% reduced rate (selling and leasing real estate, basic groceries, farming products, and pharmaceutical products)
Corporate Tax
10% standard rate
Duties
The importer is responsible for payment of the related taxes (VAT on imports) before clearing the goods from Paraguayan customs, apart from customs tariffs.Other expenses: Port rates (between 0.65% and 1.50%), Customs valuation service (0.5%), and some others of lesser impact.
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