A. M. 
Central Government current revenues and contributions totaled US$767.5 million as of january 31, 2026, representing a year-on-year increase of US$26.1 million (3.5%) compared to the US$741.4 million recorded in january 2025, according to official figures.
The result also exceeded the budgeted target for the month, estimated at US$757.9 million, with an over-execution of US$9.6 million (1.3%).
Taxes sustain growth
Tax revenues and contributions reached US$741.9 million, with an annual expansion of 4.5%, consolidating their position as the main driver of revenue collection.
VAT contributed US$376.3 million, an increase of 5.3% compared to january 2025. The dynamism came from VAT on declarations, which grew 16.3%, while VAT on imports fell 5.3%, reflecting a lower performance of the external component.
Income tax revenue totaled US$290 million, a 2.2% increase. Advance payments rose by 10%, in contrast with the slight decrease in withholding taxes (-0.3%).
Tariffs and excise duties
Import duties amounted to US$32.3 million, an 11% increase.
Meanwhile, excise taxes totaled US$24.5 million, a 6.7% increase. Notable increases were seen in taxes on cigarettes (+33.9%) and the ad valorem tax on fuels (+121%, although with a low comparative base). Conversely, revenue from alcoholic products fell by 15.9%.
Non-tax revenues decline
Non-tax revenues decreased by 19.1%, reaching US$25.6 million. The drop was mainly influenced by a reduction in current transfers and lower financial income.
Overall, the data show a start to the year with moderate growth in tax collection, driven by domestic economic activity, although with mixed signals in the external component and in non-tax revenues.
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