Wednesday, 24 April 2024 01:55

Ministry of Finance has managed to reduce the tax evasion gap by more than US$1.6 billion

Written by Karla Gutiérrez

This morning the Director of Internal Taxes, Marvin Sorto, informed that the Anti-evasion Plan implemented by the Ministry of Finance in El Salvador has reduced the tax evasion gap by more than US$1,600 million.

The payment of taxes is one of the main sources of revenue for the State, so it is a benefit to the country when each company and individual complies with these types of obligations.

With the payment made by individuals and legal entities contributes to an improvement in public services such as, for example, the revitalization of the historic center, the development of road infrastructure, among other projects.

For this year, the official explained that there are positive expectations to improve the tax collection figure with respect to 2023.

To date, the Treasury has a surplus of 551 million in relation to the 2023 budget, which amounts to 30.2%, in relation to last year's collection amounts.

This is due to the rebound that El Salvador has experienced in various economic sectors such as construction, tourism, electricity, professional services, leisure services, financial services, administration and support services, communications and government services, areas that have injected capital, which translates into higher income for the country and benefits for the population.

Sorto also reminded that “the deadline for the population to file and pay their income tax returns is april 30”.


Translated by: A.M