INSUBCONTINENT EXCLUSIVE:
drop in revenue.The agency collected 16.08 billion pesos ($3.852 billion) in taxes during the month
in tax collection this year
The last time Colombia saw such a sharp fall was in April, when revenue plummeted by 40.8%.This downward trend has raised concerns among
economic experts and government officials alike
July had offered a glimmer of hope with a slight recovery.Tax collection reached 26.4 billion pesos, showing a 4% growth compared to the
(Photo Internet reproduction)Breaking down the tax types, income tax withholding emerged as the top contributor
It accounted for 7.81 billion pesos, making up 48.6% of the total collection
Customs duties followed with 3.58 billion pesos, representing 22.3% of the total.Income tax brought in 1.78 billion pesos, contributing
11.1% to the overall collection
Other taxes made up the remaining 18.1%, amounting to 2.9 billion pesos
The agency had anticipated collecting around 26 billion pesos in August
year-to-date figures for 2024 show a worrying trend
Dian has collected 178.63 billion pesos so far.This represents a 9.3% decrease compared to the same period last year
By this time in 2023, the collection had neared 200 billion pesos.Income tax withholding and sales taxes have been the main contributors
They accounted for 35.7% and 20.9% of the total collection respectively
The government must now grapple with the implications of this continued decline in revenue.Economic experts are closely watching how this
