VAT collection fell by 24% and income tax by 27%

According to the Internal Revenue Service (IRS)_ in January, revenues collected by the Income Tax (IR)_ totaled 309.6 million dollars, 27% less than January-2015. $ 553.6 million were generated by the Value Added Tax (VAT): 24% less than a year ago.

But VAT revenues actually gives an account of transactions that took place in December last year. The VAT is paid to the IRS, from the tenth day of the following month. “What we can observe is that in December 2014 more sales were recorded compared to December 2015,” says Gustavo Peralta, tax consultancy manager at Tax Corporate Support.

Source: http://expreso.ec/economia/el-iva-recaudado-cayo-24-y-el-impuesto-a-la-renta-27-LH108148