Tax Collection Decreases by 4.5% in Costa Rica
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.
Friday, April 17, 2009
Guillermo Zúñiga, Minister of Finance, attributed these results to the global economic crisis.
The slowdown of the Costa Rican economy is evident in the figures regarded as "dramatic" by the minister of Finance.
A drop in the collection of sales tax revenue by customs offices and of the internal sales tax confirms a drop in consumption by households and firms.
In February, the government collected $199.9 million in net taxes, 15.61% less than the $236.9 million collected in January.
The decrease in tax revenue, mainly from value added tax and customs tariffs, have prevented the timely payments of the State’s obligations.
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