Guatemala City, by Daniel Coromac -AGN.- The Superintendency of Tax Administration -SAT- estimates that Guatemala could close 2023 with a tax collection of over USD 11,215 billion, maintaining the positive pattern of the last five years.
SAT reported that from January to April 2023, tax collection reached USD 4,337 billion. This amount is according to the projection for the year.
Positive Performance
The 2023 tax collection is explained mainly by the positive revenue in taxes such as Income Tax, ISO, andValue Added Tax -VAT-. These results are the outcome of actions undertaken by the SAT, such as:
- Economic sector inspection
- Audit control on the vessel’s base
- Inventory inspection
- Merchandise selection
- Resolution of tax conflicts
Based on the results obtained from tax collection according to the scenario of full compliance with the budget goals for the rest of the year, the result for the fiscal year could be around USD 11,215 billion. This represents a positive gap over the budget goal of USD 266 million.
2023 Fiscal Year Estimate
In January, tax collection reached USD 1.135 billion, while in February, it amounted to USD 735 million. It reached USD 1.07 billion in March, and in April, USD 1.259 billion.
Over the last five years, tax collection has increased significantly:
- In 2019, the total amount collected was USD 8.243 billion.
- USD 7,967 billion in 2020
- USD 10,284 billion in 2021
- USD 11,634 billion in 2022
From January to April 2023, tax revenues amount to USD 4,357 billion.
