Tax Revenue Increases by 18% in Guatemala

In the first quarter $1,925 million was raised , $295 million more than the $1,630 million for the same period in 2010.

Monday, May 23, 2011

According to information from the Superintendency of Tax Administration, in April alone the increase was 12% more than in April 2010.

"The increase in revenue is mostly seen in earnings in the Income Tax (ISR), which grew by 38 percent", explained an article in Elperiodico.com.gt

The value added tax (IVA) on imports in the first four months grew by 14.2% over the same period in 2010.



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.

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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