Despite the Finance Ministry’s warning of a possible fiscal emergency and although the Legislature approved a fast track, the tax agenda remains paralyzed.
Deputy Minister of Revenue, Fernando Rodríguez said
it seems time goes by everywhere in the world but here.”
According to the Treasury, bills and reforms on income and sales taxes should have been approved and discussed by now.
Authorities from the Finance Ministry are concerned that tax revenues’ reforms are not “moving” at the speed the country needs. The fiscal deficit reached around ¢ 600 billion in May.
Times are very, very, very tight. If we do not solve this soon, it will be harder to sustain the finances,
Two important deadlines are very close: July, 15th for a procedure with the Financial Action Task Force (FATF), and July, 31st for a forum of the Organization for Economic Cooperation and Development (OECD).