Guatemala Lowers Tax Collection Target by 9.3%

The SAT lowered its tax collection goal for 2009 by $441.

Wednesday, March 25, 2009

For 2009, the Tax Administration Superintendent (SAT) in Guatemala had planned to raise $4.758 billion, but it reported yesterday that the target was adjusted to $4.32 billion, a decrease of 9.28%.

Prensalibre.com reported that the Finance Minister, Juan Alberto Fuentes Knight, addressed the impact on the fiscal deficit: "It would have to be covered by a decrease in operating expenses, plus donations and debt grants pending approval, but it is expected that the aforementioned deficit will remain at 2%."

According to what La Prensa Libre reported in its article, the decline in revenue will cause a "reorganization of the state budget, which includes transfers and reductions in the number of units assigned to some dependencies, and modification in expenditures in items such as food, travel, fuel and vehicles."

More on this topic

Tax Revenues Up 5% in Guatemala

May 2013

In the first third of 2013 the state collected $2.111 billion, $110 million more than in the same period last year.

The figure is below the target set by the Tax Authority, which in this period was $2.277 billion, to cover the spending budget prepared by the Ministry of Finance.

Guatemala: Tax Revenues Grow

August 2011

In the first half of the year revenues generated by taxes increased by 18% compared to the same period in 2010.

Value added tax and income tax grew the most in the aforementioned period, by 18% and 34% respectively.

While overall growth was seen, decreases were observed in the amounts collected from taxes such as the tax on tobacco and the distribution of oil and its derivatives.

Guatemala: Tougher Controls to Taxpayers

July 2009

New measures have been put in place to improve tax collection, among them electronic embargoes of banking accounts and properties.

At customs, the government revenue authority, known as SAT, will develop a program dubbed "Aduana Segura II" (Secure Customs II), a closed circuit of TV cameras overseeing entrance and departure of merchandise.

Guatemala: Tax Collection down 8.3%

July 2009

In June, the government revenue superintendency collected $1.99 billion, less than the $2.17 billion for the same period of 2008.

Rudy Villeda, who heads the government revenue superintendency (Superintendencia de Administración Tributaria, SAT, in Spanish), indicated that preliminary figures put revenue for the month of June in $286 million.

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