Current revenues and contributions experienced an interannual growth of 4.8%, contributing to the country's solid financial performance.
The report details that taxes, including Income Tax (ISR) and Value Added Tax (VAT), as well as non-tax revenues, played a crucial role in this achievement. VAT, in particular, contributed US$3,166.9 million. Meanwhile, ISR contributed US$2,871.9 million.
This positive growth is attributed in part to the tax amnesty proposed by the Ministry of Finance, whose objective was that taxpayers pay the original taxes or complementary taxes owed to the Treasury of the Republic until december 8, 2023.
According to the initiative, those who paid their tax obligations before the established date enjoyed benefits such as the exoneration of interest payments, surcharges and no fines were imposed on the same tax periods and fiscal years.
The year 2023 as well as 2022 exceeded the estimated tax collection, creating records in El Salvador's tax collection.
Translated by: A.M