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RIO DE JANEIRO, BRAZIL – The list of the 500 largest taxpayers in Paraguay was presented this Wednesday by the Ministry of Finance and the State Undersecretariat of Taxation (SET). State-owned Administración Nacional de Electricidad (ANDE) was the largest contributor to the Paraguayan treasury in 2020, while Tabacalera del Este (Tabesa), from the business group of former president Horacio Cartes (2013-2018), was the second company in the overall ranking and the first in the private sector. State-owned Administración Nacional de Electricidad (ANDE) was the largest contributor to the Paraguayan treasury in 2020. (Photo internet reproduction) These 500 companies contributed almost 43% of the more than 14.3 trillion guaranís (US$2.116 billion) of the total collection for the whole of 2020, with a 12.7% drop compared to the tax revenues of 2019, as a consequence of the coronavirus pandemic and the implementation of the Dividend and Profits Tax (IDU).

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