Tax collection grew 29% in the first quarter of 2022
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- 07 Apr 2022
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The Internal Revenue Service attributed the improvement compared to the January-March 2021 period to control processes and collection actions carried out.
Tax collection in Ecuador grew 29% in the first quarter of 2022, compared to the same period last year, as reported on April 6, 2022 by the Internal Revenue Service ( SRI ).
The SRI attributed this rebound to the result of control processes and collection actions carried out, which has allowed it to collect 4,463 million dollars between last January and March, 1,015 million more than the 3,448 million collected in the same period of 2021.
In March 2022 alone, the SRI collected 1,479 million dollars, without considering temporary contributions established in the so-called Economic Development Law, applied to alleviate the effects of the coronavirus pandemic.
This collection item represents a growth of 23% (278 million dollars) compared to some 1,200 million collected in the same month of 2021.
The agency specified that if the tax collection included as temporary contributions is included, the total amounts to 1,871 million dollars.
The SRI specified that the collection of the Value Added Tax ( VAT ) in the first quarter of 2022 was 1,961 million dollars, 25% more than the same period last year; and explained that only in March a figure of 589 million was registered, 28% more than in the same month of 2021.
Regarding the Income Tax (IR), the SRI detailed that in the first quarter of this year it collected 1,184 million dollars, a 12% increase, and that only in March it was 443 million.
“The increase in tax collection in March 2022 is the result of the controls carried out by the SRI at the national level, to verify the correct and timely fulfillment of obligations and combat tax evasion, in strict adherence to current tax regulations. », said Marisol Andrade, general director of the SRI. Read More...
