Oil Royalties and Taxes Up 26%

Between January and October collection from oil royalties in Guatemala increased by 26% compared to 2009.

Monday, December 6, 2010

According to the Superintendence of Tax Administration in the month of October this sector contributed $ 57 million.

An analyst at the Association for Research and Social Studies, Rubén Darío Narciso, told Sigloxxi.com that "The price factor could influence the increase in revenue. The price fell due to the crisis and it is now recovering; another aspect which affects revenue is consumption. It is ruled out that influence on collection may be due to improvement in the quality of the oil."

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.

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.

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.

Guatemala: 77% Increase in Tax Revenue from Mining

November 2010

In the first 9 months of 2010, tax revenues from mining increased by 77% compared to same period in 2009.

Guatemala collected a total of $ 42.5 million as a result of this activity so far in 2010, $ 18.6 million more than the same period in 2009.

Mario Marroquin Rivera, from the Mines Union, said the increase could be attributed to rising international prices of gold and silver and the increase in production of certain mines.

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Ministerio de Energía y Minas de Guatemala

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Phone: (502) 2419 6464

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