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January 14, 2022
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Record tax collection figures projected for 2022

Record tax collection figures projected for 2022

Not only will the taxes created by the president, Guillero Lasso, but also the regularization of debts and assets abroad weigh. The economic reactivation also adds.

If the tax collection as of December 2021, still without any effect from the tax reform, a substantial increase can already be observed with respect to the levels that were had before the pandemic.

This increase is mainly concentrated in the VAT internal operations, which is the one that really shows the growth of economic activity in the country.

In accordance with Napoleon Santamaría, tax attorney, the amount of VAT At the end of 2021 it is one of the highest in the last 60 months, surpassed by December 2018.

In December 2021 alone, more than $ 672 million was raised. This level is even higher than the $ 528 million registered in 2019. This behavior is based on the dynamism of sectors such as commerce, industry, agriculture and mining.

Total tax collection in 2021 amounted to $ 13,976 million. However, this result could be exceeded by what is expected for 2022. Santamaría assured that a scenario is configured where a collection record due to three factors.

  1. The reactivation started in 2021 will continue and tax revenues are on an upward trend.

two. The tax reform will contribute more than $ 900 million additional, not only for temporary contributions; but above all by alternative mechanisms to regularize obligations. Within this reform, a mediation system was created so that companies can pay their outstanding debts with the Internal Revenue Service (SRI) more quickly and flexibly. “Many businesses have already been accepted to avoid long and cumbersome legal processes,” Santamaría said. For those, the $ 200 million initially budgeted could go up to $ 500 million.

3. Better results are also expected than those projected for the regularization of assets abroad. In this case, about $ 200 million of additional revenue was also budgeted through December 31, 2022; but that amount could exceed $ 600 million.

With this panorama, the greatest challenge of government is not wasting the additional resources that you are going to receive. In addition, the most important thing is that you do not neglect the optimization of the public spending and the size of the state. (JS)

DATA.- Two of the sectors that are most favored with the increase in tax collection are local governments and universities, due to the fact that they receive pre-allocations on state income.

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