Thursday, 14 July 2022 02:26

June saw US$585 million more in tax collection: Treasury

Written by Evelyn Alas

The minister of Finance, Alejandro Zelaya, informed in a morning interview that the country has an adequate level of tax collection, up to june 30, an additional US$585 million was obtained, above the amount collected by 2021, exceeding by 18% the projection made for this year.

One of the factors that has helped to overcome this level of collection is the Anti-evasion Plan and the economic measures implemented to alleviate inflation in food and fuel costs.

Another factor that helped the collection is tourism, in which the country became the most visited destination in Latin America in the first quarter of 2022 according to Forward Kelys.

The Minister affirmed that they will not stop paying their obligations, in this case the US$800 million Eurobond debt which matures in january 2023.

Zelaya assured that the Government has the capacity to continue managing Letras del Tesoro (LETES) and Certificados del Tesoro (CETES) in the short term.

The official expressed that they are working on a debt management plan for the medium and long term, which implies reducing the percentage of debt to 25% in the General Budget of the Nation.

The economic expert of ICEFI, Ricardo Castaneda, expressed through his Twitter account that in june there was the worst collection of Value Added Tax (VAT), with an average growth of 5% so far in 2022.

In another reading, this decrease could be due to the fact that the State has stopped collecting VAT because the Central Government removed this tax from each gallon of gasoline, which is valid until august 30, as well as other taxes to improve the economy of the population.