The Minister of Finance, Alejandro Zelaya, reported that the accumulated tax collection in the first nine months of the year was $5,100.3 million, a figure that even exceeds the rate of 2019, before the impact of the COVID-19 pandemic on the economy.
“If we compare what we collected in 2019 and what we have projected for 2022, it is a difference of $1.8 billion more,” the official reported.
Likewise, he explained that when comparing the collection obtained between January and September 2022 with that of last year, there is a growth of 15.6% and that it exceeds the goal stipulated in the General Budget of the Nation for the year by $299.5 million. stream.
Regarding the collection of income tax (ISR), the state coffers collected $2,244.6 million by the ninth month of 2022, an increase of 28.5% compared to last year, in addition to the fact that it is already 11% above the forecast provided by the Treasury for this tax.
In addition, the value-added tax (VAT) reported a collection of $2,289.2 million during the first nine months of this year, according to the Minister of Finance.
Zelaya considered that “the benefits to the population that President Nayib Bukele has provided since he took office have made it necessary to improve the way in which the state collects its income. Thanks to the central government strategies, it has been possible to achieve this.”
“El Salvador is fulfilling its commitment to stop tax evasion. “We became the country that collects the most taxes in Latin America with respect to GDP, surpassing Chile and Uruguay”, he added.
In recent days, important players in international finance have expressed their support for the government’s collection management, including the opinion of Bank of America, the second largest bank holding company in the United States, which published a report highlighting the performance of tax revenue in the administration of President Bukele.
In the publication, the bank’s analysts highlight the effectiveness of the Anti-Evasion Plan and compare the achievements with the effects that a tax reform (which has not been implemented) would have had.
In this regard, the head of the Treasury said that “Bank of America summarized the Anti-Evasion Plan as a structural reform of public finances, which has delivered 2.7% of the Gross Domestic Product (GDP)”, referring to the increase in tax collection since the plan was activated in October 2019.
He reiterated that these funds are what have made it possible to maintain social programs, investment in development and the anti-crisis measures applied by the government since 2019.
«We want our companies to be successful and produce, but also to pay their taxes so that there is fairness and justice. With the Anti-Evasion Plan, we are achieving it and the message has been understood,” the Minister stated.