Tax revenues grow by 11 percent in first quarter
Revenue generated primarily by fuel, corporations and tobacco taxes increased Costa Rican tax revenues by 11.4 percent during the first three months of this year, the Finance Ministry reported on Monday.
Despite the increase, the country’s deficit also was maintained during the first quarter, “because the government in 2013 has invested more in infrastructure,” according to the report.
State spending also grew by nearly 11 percent, so that the fiscal deficit for the first quarter of this year remains at 1.4 percent of gross domestic product.
The report also indicates that the Finance Ministry has stepped up efforts to prevent smuggling, after increasing Fiscal Police personnel by 25 new officers.
In 2012, the Fiscal Police seized the country’s largest shipments of electronics, with 18,000 products seized, most of them TV sets.
You may be interested
Costa Rica has administered 25,000 vaccine shots, Caja saysThe Tico Times - January 15, 2021
Costa Rica’s public-health system has administered nearly 25,000 coronavirus vaccine shots, the Social Security System (Caja) reported. The figure —…
FAQ: The United States’ new Covid travel requirementsThe Tico Times - January 15, 2021
The Centers for Disease Control (CDC) has announced that all international airline passengers flying to the United States must show proof…
UK bans South American, Panama arrivals over Brazil virus strainAFP - January 15, 2021
Britain will ban all arrivals from South America, Panama, Cape Verde and Portugal from 0400 GMT Friday over fears of…