The Colombian government collected 56.15 trillion Colombian pesos, or US$28.6 billion, in taxes in the first ten months of the year, 6.1% higher than in the same period a year ago, the tax agency said Wednesday in a statement.
The tax revenues were lower than the COP57.58 trillion the government expected for the period.
Revenues from domestic taxes reached COP45.99 trillion, 9.5% more than in the same period in 2008, while revenues from tax on products and services from abroad fell 7% to COP10.14 trillion.
The tax collection target for this year is COP68.2 trillion, up from COP67.1 trillion in 2008.
The Colombian government expects to report a consolidated budget deficit equivalent to 2.6% of gross domestic product in 2009 as tax collection is expected to grow more slowly than spending because of the economic slump. (Dow Jones)
