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LatinNews Daily - 22 May 2020

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In brief: Icefi warns of drop in tax take for Central America

* The Guatemala-based think tank Instituto Centroamericano de Estudios Fiscales (Icefi) is forecasting that Central America’s tax take will drop by US$3.85bn (0.92% of regional GDP) in 2020 due to the coronavirus (Covid-19) pandemic. Icefi also expects that the regional tax take as a percentage of GDP will fall from 14% in 2019 to 13.1% in 2020. According to Icefi, Costa Rica reported an accumulated tax take of ₡1.291tn (US$2.27bn) as of 31 March, up 4.7% on the same period in 2019; El Salvador reported tax take of US$1.76bn as of 30 April, a 11.2% drop on the same period in 2019; Guatemala’s tax take as of 30 April was Q21.45bn (US$2.78bn), up 1.1%; Honduras reported tax take of L27.19bn (US$1bn) as of 30 April, a 6.8% drop; Nicaragua registered tax take of C$19.27bn (US$561m) as of 31 March, down 9.6%; while Panama reported US$1.3bn in tax take as of 30 April, a 23.7% drop.