Guatemala: Tax Revenues Grow

In the first half of the year revenues generated by taxes increased by 18% compared to the same period in 2010.

Friday, August 19, 2011

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.

"The exit tax paid for leaving the country by air fell by 6.2% and reported revenues of $15 million.

The SAT expects to close this year with $115 million above the target. In the 2011 budget nearly $5 billion is estimated in tax revenues, including the Anti-Evasion Law II, which has not yet been approved by Congress. "



More on this topic

Tax Revenues Up 5% in Guatemala

May 2013

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.

Guatemala: 20% Rise in Tax Collections

July 2011

In the first six months of the year the total raised was $2,778 million, 20% higher than the $2,316 million collected in the same period in 2010.

According to the Tax Authority, revenue from Value Added Tax (VAT) on imports registered an increase of 18.5%, while domestic VAT revenue increased 21.45%.

Tax Revenue Increases by 18% in Guatemala

May 2011

In the first quarter $1,925 million was raised , $295 million more than the $1,630 million for the same period in 2010.

According to information from the Superintendency of Tax Administration, in April alone the increase was 12% more than in April 2010.

"The increase in revenue is mostly seen in earnings in the Income Tax (ISR), which grew by 38 percent", explained an article in Elperiodico.com.gt

Tax Revenue Increases 9.25% in Guatemala

December 2010

As of November tax revenues have increased $ 393 million over the same period in 2009.

In the first eleven months of the year tax collection totaled $ 4.247 million according to the Superintendence of Tax Administration.

"The tax which has generated more revenue to the Treasury in 2010 is the Income Tax (ISR) with $ 905 million" reports the article in Sigloxxi.com.

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