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.

"The official stressed that in January tax collection reached Q4.5 billion ($571 million), an increase of 16 percent versus Q3.8 billion ($482 million) in the same month of 2012. This growth exceeded the target of Q4.1 billion ($520 million).

According to official statistics, foreign trade taxes increased by seven percent and reached Q1.2 billion ($152 million) while domestic taxes rose 20.3 percent and totaled Q3.3 billion ($419 million)", noted an article in Elperiodico.com.gt.

Source: elperiodico.com.gt

More on this topic

Nicaragua: Tax Collection Up 21%

August 2012

The Directorate General of Revenue (DGI) of Nicaragua raised between January and June 2012 some $603 million, which is 21.15% more than in the same period in 2011.

The total revenue collected exceeded the target set in the General Budget of the Republic by 7% .

"According to research by the Strategic Planning Department of the DGI, the gross proceeds obtained shows a tendency to average annual growth of 21 percent when income from the first half of 2012 is compared to the same period last year.

Tax Collection Up 25%

May 2012

Up to March 2012 the Directorate General of Revenue (DGI in Spanish) in Nicaragua raised to nearly $100 million more than planned.

The DGI had revenues of C $2,328,300,000 million, or $99,472,793.97 in the first quarter, 25% more than planned for in the 2012 budget.

Confidencial.com.ni reports that that according to a detailed review presented by economist Adolfo Acevedo, "if the tax collection ends this year having grown by 22%[more than in 2011], it would reach a total of C $42,634.4 million, an amount that would be C$ 5,023.6 million ($213.8 million) above the figure of C $ 39,946.2 million revenue recorded in the budget, " after the extraordinary collection of 2011 totaled C $3,300 million ($141 million).

Guatemala: Tax Collection Increases by 30.6%

January 2012

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

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.

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.