El Salvador: 20% Decrease in Customs Collection Expected

The Customs Director General is projecting revenue of about $1 billion, according to preliminary estimates for 2009.

Monday, May 11, 2009

During the first quarter of 2009, general collection decreased by 16%, $115.7 million less than for same period in 2008.

German Rivas wrote in Laprensagrafica.com: "Of this total, 40% was collected by Customs, which recorded a decrease of 25% from January to April this year, with the maritime border of Acajutla in Sonsonate and the land border of San Bartolo in San Salvador being the ones that were impacted the most. The five products that bring in the most resources with respect to duties on imports (DAI) and Value Added Tax (VAT) are fuel, machinery, electrical equipment, cars and plastic articles.



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Tax Revenues Decrease by 12.1% in El Salvador

April 2009

Up to and including February 2009, tax collection was $436.8 million, compared to $497 million during the same period last year.

The head of the area of macroeconomics for the Salvadoran Foundation for Economic and Social Development, Álvaro Trigueros, informed Elsalvador.com: “The reduction in tax revenues comes from lower collection of the Value Added Tax (IVA), which decreased by $53 million, while import taxes were down by some $10 million. The decline in imports is related to falling oil prices, lower tariffs and generally to a lower economic growth."

Tax Collection Decreases by 4.5% in Costa Rica

April 2009

The 15.2% decrease in customs tax collection for the month of March was the most influential in the outcome of the first quarter of 2009.

Guillermo Zúñiga, Minister of Finance, attributed these results to the global economic crisis.

Mipunto.com reported statements by the minister: "The global recession, which has caused a sharp slowdown in local economy, has taken its toll with regard to tax collection."

El Salvador: Tax Collection Decreases by 15%

April 2009

In February, the government collected $199.9 million in net taxes, 15.61% less than the $236.9 million collected in January.

According to official figures from the Central Reserve Bank (BCR), tax collection for February was also 13.76% lower than during the same period in 2008.

Salvadoran State Falls Behind in its Payments

March 2009

The decrease in tax revenue, mainly from value added tax and customs tariffs, have prevented the timely payments of the State’s obligations.

The elimination of the electricity subsidy payments, which affects those who consume in excess of 99 kilowatts, was a decision that was forced upon the Salvadoran government by the decline in revenues in the face of the economic downturn affecting the country.

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