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."
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."
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