Saturday, 23 April 2022 05:24

Treasury has managed to collect more than US$300 million by march 2022

Written by Evelyn Alas

The Minister of Finance, Alejandro Zelaya, said in a morning interview that, during january and february 2022, they had registered around US$200 million in tax collection, and as of march, the institution had already collected more than US$300 million of what had been projected.

He said that, if the Ministry of Finance continues at this rate of collection, also with other incentives that they will manage during the year, it is possible that they will surpass the goal they have projected to reach and this will allow them to obtain the necessary resources to cover the needs that they had not planned.

Likewise, he said that they are about to close the Income Tax collection, and they have already collected US$789 million, close to US$1,800 million that they intend to collect until may 2.

The official said that so far they have received 426,000 tax returns out of 609,000 that were expected, that is, a 60% compliance rate by taxpayers.

He emphasized that there are some companies that find it difficult to manage the process because they are financial conglomerates with so many subsidiaries, with so many houses, another parent company out of operations, due to the fact that they have to prepare consolidated financial statements, they have to verify some capital gains that some investments have, they have to review all their costs for later, so that they will not be objected by the Ministry of Finance.

The official emphasized that they will continue attacking evasion and improving the administrative collection system. He added that they have boosted the control strategy with operations in tax havens.