The DGI had revenues of C $2,328,300,000 million, or $99,472,793.97 in the first quarter, 25% more than planned for in the 2012 budget.
Confidencial.com.ni reports that that according to a detailed review presented by economist Adolfo Acevedo, "if the tax collection ends this year having grown by 22%[more than in 2011], it would reach a total of C $42,634.4 million, an amount that would be C$ 5,023.6 million ($213.8 million) above the figure of C $ 39,946.2 million revenue recorded in the budget, " after the extraordinary collection of 2011 totaled C $3,300 million ($141 million).
The Directorate General of Revenue (DGI) of Nicaragua raised between January and June 2012 some $603 million, which is 21.15% more than in the same period in 2011.
The total revenue collected exceeded the target set in the General Budget of the Republic by 7% .
"According to research by the Strategic Planning Department of the DGI, the gross proceeds obtained shows a tendency to average annual growth of 21 percent when income from the first half of 2012 is compared to the same period last year.
The increase far exceeds the government's own expectations and is fueled by revenue collected from taxes on income and value-added sales.
The total collected in September was $1.17 billion, 29% more than the same period of 2010.
"The economist Adolfo Acevedo commented that the growth in tax income continues to exceed the predictions made as part of the Nicaraguan general budget this year, which predicted growth in revenue of 13.8%," reports an article for Laprensa.com.ni.
In the first 10 months of 2011, tax revenues reached $4.723 million, 18.4% higher than in the same period in 2010.
The increase in revenue is due in part to a significant increase in the collection of Income Tax (32.9%).
"Pablo Urrutia, analyst from the Association for Research and Social Studies (ASIES in Spanish), thought that in addition to these figures and percentages, it would be necessary to look at other factors, such as prices and inflation. 'Even if more money has been collected, if you do not have better spending there is no real benefit, despite the fact that economic growth has increased’”, reports Siglo21.com.gt.
Receive more news about Taxes
Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.
We offer for sale the only two ground floor Retails in one of the most famous building in Panama "The Revolution Tower" build in 2011 with 47 floors, designed by Pinzon Lozano The Revolution Tower, ranked by Emporis Skyscraper Award...