Gov’t Surpasses Tax Collection Goals for 2007

MANAGUA – The Nicaraguan Income Tax Office (DGI) reported this week that it surpassed its goals for 2007 by increasing tax collection by more than 121% from 2006.

Walter Porras of the DGI said that tax collection in 2007 was $678 million, up from $344.4 million in 2006. The goal for 2008, according to Porras, is to increase tax collection by another 13%.

Finance experts here have said for years that Nicaragua needs to improve its culture of paying taxes in compliance with the law.