A. M. The Ministry of Finance has revealed historic growth in the country’s tax collections, reaching an 8.1% increase through july of this year. This increase translates into a significant inflow of funds for the state coffers, driven by new fiscal policies and government investments.
According to official data, US$5,132.4 million was collected at the end of july, exceeding the US$4,748.3 million collected for the same period in 2024. This growth of US$384.1 million demonstrates the effectiveness of the measures implemented to strengthen the economy and secure the inflow of resources.
Income Tax (ISR) and Value Added Tax (VAT) are the main drivers of this growth. VAT has increased by 9.1%, surpassing US$2.215 trillion, reflecting the country’s robust economic activity and consumption, driven by factors such as the arrival of remittances.
In turn, Income Tax (ISR) has contributed US$2,255.2 million, representing a 6.9% increase compared to the previous year. This increase demonstrates the solidity of economic agents’ profits and the effectiveness of the tax administration.
The success in tax collection is attributed to a combination of factors, including the implementation of electronic invoicing, improved tax management, and the anti-smuggling plan. These initiatives have allowed more funds to efficiently reach the public treasury.
The funds raised are reinvested in crucial programs for the population, such as education and health. They are also used to build new infrastructure, contributing to the development and overall well-being of citizens.
