Tax Collection in El Salvador Decreases

Tax collection between January and April 2009 was $186.6 million, a decrease of $48.5 million in relation to the same period in 2008.

Friday, May 15, 2009

The number of taxpayers seeking to make installment payments has increased.

Laprensagrafica published on its website: "According to a Treasury report, tax revenues have fallen by 11% during the first four months of 2009 compared to the same period in 2008. Moreover, the collected amount is 15.9% less than what was projected in the nation’s budget. The same applies to VAT, which has decreased by 13.2% compared to last year, and 19.5% with respect to what was budgeted."

More on this topic

Tax Collection Drops in El Salvador

February 2010

Up to February 15, the country had collected $143 million worth of income taxes, a 9% reduction when compared to the same period of 2009.

Economist Claudio de Rosa sees these results as worrisome, as the tax reform should have produced better figures.

“’Should this go on, the Government will be unable to reach its collection targets, specially because economic activity continues to fall’, said de Rosa”.

El Salvador: Tax Income Keeps Falling

December 2009

Up to September 2009 tax income has dropped $214 million when compared to the same period of 2008.

In its latest report, the Budget Analysis Unit of the Legislative Assembly attributes the drop to lower consumption by the population, which translates into less value-added tax.

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 “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."

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.

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