A. M. 
Central Government tax revenue closed 2025 with an 8.5% increase compared to the previous year, according to data provided by the General Directorate of the Treasury of the Ministry of Finance. This increase translates to an additional US$647.9 million, driven primarily by tax revenues, especially VAT, Income Tax, and import tariffs.
Total current revenues and contributions rose from US$7,650.4 million in 2024 to US$8,298.3 million in 2025, falling slightly short of the approved budget of US$8,319.8 million, with a difference of just US$21.5 million (-0.3%).
Tax revenues: a key driver of growth
Tax revenues and contributions increased from US$7,369.1 million to US$7,986.1 million, an increase of US$617.0 million (8.4%), exceeding the budget forecast by US$255.9 million (3.3%). Within this group, the pillars of growth were:
VAT: increased from US$3,500.9 million to US$3,817.6 million, a rise of US$316.7 million (9.0%), exceeding the budget target by US$100.5 million (2.7%). This increase reflected both domestic consumption and foreign trade activity, with domestic declarations rising from US$1,616.8 million to US$1,732.8 million (7.2%) and VAT on imports reaching US$2,084.8 million (10.6%), exceeding the target by US$87.3 million (4.4%).
Income Tax: grew from US$3,102.8 million to US$3,328.3 million, adding US$225.5 million (7.3%), and exceeding the budget by US$113.9 million (3.5%). The increase was due to higher tax returns, withholdings, and estimated tax payments, reflecting stronger tax compliance and a stable taxpayer base. Tax returns rose from US$877.7 million to US$965.3 million (10%), withholdings from US$1,481.1 million to US$1,567.4 million (5.8%), and estimated tax payments from US$744.0 million to US$795.5 million (6.9%).
Import duties: These increased from US$340.7 million to US$383.0 million (12.4%), practically aligning with the budget target of US$381.4 million.
Other revenues that strengthen tax collection
The growth in revenue collection was also supported by other taxes and special contributions. “Other taxes and miscellaneous levies” rose from US$109.3 million to US$128.6 million (17.7%), exceeding the budget by US$16 million (14.2%), with notable increases in real estate transfers (up 26.2%) and the ad valorem tax on insurance premiums (up 13.7%).
In special contributions, revenues increased from US$79.5 million to US$83.5 million (5.0%), with increases in public transport (7.0%) and extracted sugar (79.0%), while non-tax revenues rose from US$281.3 million to US$312.3 million (11.0%), despite falling short of the planned budget by US$277.4 million (-47.0%), due to higher financial income and current transfers.
The 8.5% growth in tax revenue is not due to a single tax, but rather to the combined performance of the main taxes, formal economic activity reflected in VAT, compliance with Income Tax, the strengthening of foreign trade and wealth taxes, and contributions from special levies and non-tax revenues. In total, the Central Government’s treasury strengthened, reaching US$8,298.3 million, reflecting greater economic dynamism and efficiency in tax collection.
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