The tax with the highest collection during the first three months of this year was the value added tax (VAT) with a total of US$874.5 million, which implies an increase of 14.5% if compared to the figure recorded in the same period of the previous year, which was US$763.6 million, which means an inter-annual difference of US$110.9 million.

As for income tax (ISR), the Treasury reported that up to the end of march 2024, US$742.3 million have been recorded, which means an increase of 11.1% when compared to what was obtained at the same stage of 2023, when the country collected US$667.9 million.

With respect to the budgeted amount, the US$742.3 million that the revenue left in the first three months of this year is 1.1% higher than the estimate US$8 million more.

In the record corresponding only to march 2024, the accumulated VAT was US$266 million, and income was US$186.8 million.

The Treasury data indicate that in this first quarter the country received US$58.9 million in selective consumption taxes, i.e. products and services sold with a special tax.

The minister of Finance, Jerson Posada, said recently that the projection is that by the end of this year the tax collection will grow around US$350 million.

Translated by: A.M