This increase in tax collection responds to an effective management of public resources and to the responsibility of hundreds of thousands of taxpayers who fulfill their obligations to the State.

In greater detail, the Treasury stated that, of this total, revenues from taxes and contributions amount to US$4,741.6 million, that is, approximately 96 %.

Similarly, taxes and contributions have contributed US$103.9 million more than last year. It is important to note that the amount collected by the State in this way is higher, by 2.6%, than what was estimated when the Executive Branch formulated the budget for this year.

The taxes that have contributed the most in these eight months that have elapsed in 2023 are Income Tax (ISR), which reports the highest amount, and VAT, an indirect tax.

Thus, the ISR contributed US$2,133 million. According to the Treasury, this figure implies a growth of 2.7% compared to 2022 and 1.9% compared to what was set as a goal in the budget.

Meanwhile, the VAT has US$2,096.7 million up to the eighth month, a total that exceeds last year's by 1.9%. The improvement in income tax collection is a sign that the country's tax system (which brings together all taxes paid by taxpayers) is now more progressive: those who earn more also contribute more.

The Government has been able to improve its tax collection without having to create a new one, nor increase the existing ones, as instructed by the President.

Translated by: A.M