Panamanian Government Collects 20% More Than in 2011

Income accrued up to September rose by 20% compared to the same period last year, totaling $4.3 billion, representing a surplus of 5.9% above budget.

Monday, October 29, 2012

A statement from the Department of Revenue reads:
Current Income:

Current revenue collected in the month of September totaled B/.605 million, exceeding by B /. 148.7 million (32.6%) the budget for the period and registering a growth of B /. 238.8 million (65%) compared to the same month last year. Tax revenues accounted for 87.8% of total revenue, an increase of B/.233.7 million (78.6%) compared to September 2011.

Current revenues accrued up to September amounted to B/. 4.32 billion, representing growth of B/.723.5 million (20%) compared to the same period last year and a surplus of B/.239.7 million (5.9%) compared to the budget.

Tax income accrued during the January-September period represent 82% of total current income and show a cumulative growth of B/.752 million (27%) compared to the same period last year. Tax receipts up to September exceeded B /. 309.8 million (9.6%) for the budget period.

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