So far this year, Dian‘s tax collection is 7.9% below last year’s figure. Between January and September 2024, the collection has been 206.83 billion pesos. In the same period of 2023 it was 224.53 billion.
Of course, the collection in September of this year—of 28.2 billion pesos—exceeded that of the previous year by 2.9%.
This is how the 2024 collection goes:
- 34.6%: withholding at source, that is, $71.6 billion.
- 28.3%: other taxes, $58.5 billion.
- 23%: sales, $47.5 billion.
- 14.1%: customs movement, $29.1 billion.
And this is what Dian’s contribution to the 2024 Budget has been:
The figure falls short of the government’s projection. A collection of 214.9 billion pesos was estimated and September was a decisive month as it was the income tax return season.
Before the Budget cut, the initial estimate was 240.2 billion pesos.
On the other hand, experts affirm that the collection is not enough because it was lower than September inflation, which reached a cumulative inflation of 5.81%.
Increases the pressure on Dian. The results reinforce the little confidence there is in the entity due to the failure to meet its collection projections. A result that shakes the high expectations that the Ministry of Finance had for the Dian to finance the 2025 General Budget.
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