November
11, 2004
Venezuela
Eyes $14.27 Bln Tax receipts 2005
(Latin America News Digest) - "Venezuela
expects to collect 27.33 trln Venezuelan
bolivars ($14.27 bln/11.08 bln euro) in
taxes in 2005, the chief of the national
tax agency Seniat, José Vielma
Mora, said on November 10, 2004.
Value-added tax (VAT) receipts
in 2005 will round 14.65 trln bolivars
($7.65 bln/5.94 bln euro). Customs duty
collections will round 3.11 trln bolivars
($1.62 bln/1.26 bln euro).
The average monthly tax
haul in 2005, according to Vielma Mora,
will reach2.2 trln bolivars ($1.15 bln/891.64
mln euro). Venezuela eyes 20.45 trln bolivars
($10.68 bln/8.29 bln euro) tax haul in
2004, rising 27 pct above the initial
expectations. Venezuela achieved its full-year
2004 tax collection target standing at
16.05 trln bolivars ($8.38 bln/6.5 bln
euro), on September 30, 2004, Vielma Mora
said.
The rising tax haul
in the country was mainly due to the tax
evasion measures adopted by Seniat and
to the improved technology to collect".
