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."
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.
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.
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.
The decrease in tax revenue, mainly from value added tax and customs tariffs, have prevented the timely payments of the State’s obligations.
The elimination of the electricity subsidy payments, which affects those who consume in excess of 99 kilowatts, was a decision that was forced upon the Salvadoran government by the decline in revenues in the face of the economic downturn affecting the country.
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