Thursday, 08 June 2023 00:03

Tax collection continues positive trend, benefiting social investments

Written by Evelyn Alas

The Ministry of Finance reported that the Income Tax (ISR) generated US$1,553 million up to may of this year. Compared to the same period of 2022, this is a positive variation that maintains the trend that has been in place since previous months.

In greater detail, Income Tax Payment on Account revenues accumulated US$293 million up to the aforementioned date, which represents a growth of 2.5% with respect to 2022.

▷ Características, clasificación y finalidad de los IMPUESTOS

Meanwhile, withholdings from said tax have already contributed US$593.1 million, that is, an increase of 2% compared to the previous period. Likewise, Value Added Tax (VAT) withholdings total US$627.7 million up to the fifth month of the current year, showing a 12.1% growth compared to last year.

Along with taxes are special contributions, which are used for very specific purposes, as well. In this sense, the Treasury indicated that this group of revenue sources has left US$77 million up to may.

IRS: ¿Por qué la devolución de impuestos de 2023 puede ser menor que la de  este año?

If the data for 2022 is taken, it reflects an increase of 12.5%. They have even surpassed the goal that had been established for the budget by 52.5%. Among them, the contribution to promote tourism has left US$6.8 million, and the one directed to the Fondo de Conservación Vial (FOVIAL), US$46.4 million.

All of this has been due to efficient management and the execution of the Anti-Evasion Plan, which has facilitated an improvement of US$1.2 billion in tax revenues over the course of the four years.

Así son los impuestos en cada comunidad

These funds go to programs that benefit the people, such as Enlaces con la Educación, Crecer Juntos, the intervention in the hospital network, the hiring of more medical personnel, the Plan Control Territorial and the war against gangs, as well as Protección Civil and economic development support actions.


Translated by: A.M