Tax Collection in Panama Up 13%

Government revenue during January 2011 totaled $ 332.8 million, $ 37.6 million more than the same period of 2010.

Friday, February 25, 2011

Tax revenues reached $ 264.5 million, an increase of $ 52.5 million (24.8%) over January 2010.

Regarding indirect taxes, revenue was $ 169.5 million, a net increase of $ 52.8 million (45%) over the same month last year.

The highest growth compared to January 2010 was recorded in the Personal Property Tax and Services (ITBMS) and the selective consumption tax, said Finance Vice Minister Dulcidio De La Guardia.

More on this topic

Panama: Fiscal Revenue Up 15%

September 2012

The amount of revenue accrued by the state in 2012 up to August is $494 million more than the revenue from the same period in 2011.

From a statement from the Department of Revenue (DGI in Spanish):

Current Income:

Current revenue during August totaled B/.420.2 million, exceeding by B /.

Tax Incentives in Costa Rica Total 5.8% of GDP

September 2011

The amount of tax exemptions is more than double the amount the projected revenue from the tax reform being studied in Congress (2.5% of GDP).

Among the most important exemptions are sales tax (3.68% of GDP) and income tax (1.82% of GDP).

A study by the Fiscal Studies Program at the School of Economics, at the National University, with the support of Ministry of Finance, is the first formal tax expenditure study that has been conducted in Costa Rica.

Panama: More Revenue than Projected

May 2011

The Ministry of Economy will revises its forecasts upwards both for economic growth and estimated income from tax reforms approved in July 2010.

The tax reform package introduced in late 2009 by the Ministry envisaged a hike on property transfer tax (ITBMS) from 5% to 7% and projected additional revenue of $200 million a year.

Panamanian Tax Collection Up 26%

April 2011

During the first three months of the year, tax authorities collected $1.257 million in taxes, $264 million more than the same period of 2010.

Luis Cacalón, revenue director at the Economy Ministry, reported that current revenue rose to $583.1 million in March, 16.8% more than in March 2010.

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