Monday, May 29

Government current income in 2021 grew 14.6% compared to the previous year

The Government’s current income at the end of December 2021 totaled $7,366.5 million, reflecting a surplus of $590.6 million, 8.7%, compared to the cash budget and an increase of $937 million, 14.6% against the accumulated for the same period of the year 2020, detailed the Director General of Revenue (DGI), Publio De Gracia.

He explained in a press conference that the accumulated effective collection of tax revenues at the preliminary closing of December 2021, reached the figure of $4,344 million, reflecting a surplus of 6.72%, compared to the budgeted goal without tax documents, where direct taxes reflect: $183.45 million, 8.2% more, indirect $90.14 million, 4.9%, above budget and compared to what was collected in the same period of the year 2020, an increase of $448.7 million.

De Gracia stressed that non-tax revenues reached the sum of $2,964.2 million, reflecting 14.69% over budget and an increase of 18.94% in relation to what was collected in 2020. Direct taxes increased by $193.0 million, while indirect taxes were $255.6 million more than the previous year.

He explained that during the pandemic, tax relief measures contributed to the collection of $282,022,054, for the benefit of 259,947 taxpayers and a tax sacrifice of $93,443,816.

De Gracia reminded natural and legal persons that currently Law 257 of November 26, 2021, of Tax Regularization, is in force for taxpayers who applied to the DGI to benefit from the aforementioned process, They will enjoy the exemption on surcharges and interest of 70% in payment arrangements, and 75% in case of total payment of the obligations that are in delinquency until January 31, 2021.

What’s more, the law grants taxpayers who by 2022 pay in advance (before the end of April) the total property tax corresponding to said period, a discount for prompt payment equivalent to 15% of the total to be paid.

Too invited taxpayers to submit the affidavit of income according to the established schedule: for natural persons until March 15 and for legal persons until March 31.

For his part, the Vice Minister of Finance, Jorge Luis Almengor, pointed out that the period 2021, was important in the collection of current income, because it allowed reaching the goals established in the General State Budget and exceeding the collections of the year 2020.

Almengor attributed the significant jump in current income to the projects carried out by the DGI, such as the new billing method, which resulted in an increase in taxpayers reporting consumption taxes.

The Vice Minister of Finance added that The goal established for the current fiscal period is $9.5 billion in collections.