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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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.
The amount collected by the State of Panama during the first three months of 2012 was what was budgeted, exceeding the expected amount by 5%.
From a press release from the Ministry of Economy and Finance of Panama:
Current revenue during the first quarter of 2012 amounted to $1.5495 billion, exceeding the amount budgeted by $73.6 million (5%) and the results from the same period in the previous year by $294 million (23.4%), said the Deputy Finance Minister Mahesh Khemlani at a press conference.
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