January revenue surge: DGII reports collection of RD$76,547.9 Million

Santo Domingo.- The General Directorate of Internal Taxes (DGII) has reported a collection of RD 76,547.9 million in January 2024, indicating a substantial growth of 16.5% compared to the same period the previous year.

This surge, amounting to an increase of RD 10,822.7 million over January 2023, underscores the favorable momentum in collections for the current year, aligning with the economic growth experienced locally.

The January collection report emphasizes the noteworthy commitment of taxpayers, boasting a tax compliance rate of 104.5%. This surpasses the estimated RD 73,221.4 million to be collected in this period, reflecting the confidence of the productive sectors within the country.

“The year 2024 begins with positive behavior, presenting double-digit growth and exceeding the goal assigned in the General State Budget. These results reflect the effort and dedication of all the collaborators of the General Directorate of Internal Taxes, as well as a better economic performance, which is above the estimated average for Latin America at the end of 2023,” stated the report by the Economic Studies Management of the DGII, addressing collections for the month of January.

Breaking down the figures by office, DGII collections in January constituted 68% of the total government income. Additionally, under Law 51-23, which establishes a special temporary treatment for inspection, management, and recovery of tax debt, RD 6,517.8 million have been received.

Among the main taxes contributing to January collections, the Value Added Tax (ITBIS) took the lead with RD 21,796.3 million, a notable increase of RD 3,676.6 million compared to the same month in 2023. This growth was propelled by positive sales figures in economic sectors such as hotels, bars, and restaurants, as well as construction and vehicle trade.

Following closely was the Personal Income Tax, making a significant contribution of RD 11,545.2 million, surpassing the January 2023 figure by RD 1,515.9 million. The Corporate Income Tax and Asset Tax followed suit, yielding RD 11,142.6 million, an increase of RD 717.1 million over January 2023.

Selective Taxes on Fuels ranked next, generating RD 6,609.6 million, representing a notable increase of RD 733.1 million. Finally, the Tax on Dividends secured RD 4,021.9 million in collections, marking a substantial growth of RD 1,937.8 million compared to the corresponding period last year.