Nicaragua: Tax Collection Up 21%

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.

Tuesday, August 7, 2012

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.

The taxes that contributed most to the ample collection this year were Income Tax (IR) and the Selective Consumption Tax (ISC)", reported

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"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