El Salvador Customs hail record US$1.09 billion annual take

El Salvador's Customs service said it collected US$1.093 billion in import duties and tariffs last year, a 10.7 percent increase on 2006.

Tuesday, June 10, 2008

While the amount collected increased at a rate of US$45-60 million a year between 2002 and 2005, since then it has risen to US$100 million a year.
Customs chief Gustavo Villatoro said increased controls had offset the projected US$420 million loss that had been expected from tariff reductions after the free trade agreement with the United States came into effect in March, 2006.



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Salvadoran Businesses Object Fiscal Reform

October 2009

ANEP, the Private Enterprise Association warned the proposed tax reform would impact negatively on consumers.

Federico Colorado, ANEP President, said: "In our opinion, in times of crisis we must study how to make the economy more dynamic, make it grow and analyze how to boost the diverse productive sectors".

El Salvador: 20% Decrease in Customs Collection Expected

May 2009

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

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."

El Salvador tax amnesty expected to yield $25 million

June 2008

In an effort to increase tax collections, El Salvador's Finance Department has offered tax amnesty to past evaders in hopes that they will pay up in the future. The government hopes to collect an additional 25 million dollars with this strategy.

Finance Minister William Handal said the measure will be published in the Official Gazette this week and will take effect at once.

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