February 28, 2007
Venezuelan Treasury revenues at USD 61.9 billion in 2006

(El Universal) - "The Venezuelan Treasury Office revenues from oil sales and tax collection in 2006 soared 38 percent to USD 61.9 billion, compared to USD 44.2 billion in 2005.

According to the figures disclosed in the Ministry of Finance 2006 annual report submitted to the Venezuelan Parliament, cash revenues amounted to USD 60.8 billion, while other USD 1.1 billion were bonds, retentions and tax refund certificates.

Venezuelan state oil firm Pdvsa contributed US 28.9 billion in royalties, income tax and profits in 2006.

Tax revenues in the same period amounted to USD 24.3 billion. Among all imposts in force in Venezuela, value-added tax made the largest contribution to the Treasury, with USD 12 billion. Income tax amounted to USD 8.5 billion.

Public expenses in 2006 were 34 percent of Gross Domestic Product, the report added".