Guatemala: Tax Collection Increases by 30.6%

In November 2011 tax collection reached the milestone amount of $1,205 million, 30.6% more than in the same period in 2010.

Tuesday, January 3, 2012

The head of the Tax Authority, Rudy Villeda cited as the main causes of this growth improvements in economic activity and greater control of tax collection.

According to the analyst from the American Institute for Fiscal Studies (ICEFI) Jhonatan Mencos, the main factors that determined the increase were: 'The strong economic activity evidenced in the year and the tax amnesty decree issued by the Executive from February to August’", reported Siglo21.com.gt.



More on this topic

Improved Tax Collection in Guatemala

February 2013

The simplification of procedures and the use of technology has made it easier for taxpayers to pay taxes, resulting in an increase of 16% in revenue.

Miguel Gutierrez, head of the Tax Authority (SAT), said that of the 1,200 existing forms to file and pay taxes, there are currently only 87 and the intention is to reduce them to 15 this year.

Tax Collection Up 18% in Guatemala

November 2011

In the first 10 months of 2011, tax revenues reached $4.723 million, 18.4% higher than in the same period in 2010.

The increase in revenue is due in part to a significant increase in the collection of Income Tax (32.9%).

"Pablo Urrutia, analyst from the Association for Research and Social Studies (ASIES in Spanish), thought that in addition to these figures and percentages, it would be necessary to look at other factors, such as prices and inflation. 'Even if more money has been collected, if you do not have better spending there is no real benefit, despite the fact that economic growth has increased’”, reports Siglo21.com.gt.

Nicaragua: Tax Income Increases 29%

November 2011

The increase far exceeds the government's own expectations and is fueled by revenue collected from taxes on income and value-added sales.

The total collected in September was $1.17 billion, 29% more than the same period of 2010.

"The economist Adolfo Acevedo commented that the growth in tax income continues to exceed the predictions made as part of the Nicaraguan general budget this year, which predicted growth in revenue of 13.8%," reports an article for Laprensa.com.ni.

Minimum Income Statement

September 2011

The Costa Rican Department of Taxation will audit companies that declare income below the minimum percentages required.

The thresholds for the different productive sectors will be published before 24 September and arise from the amounts that were declared previously by the taxpayers and those detected in the audits.

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