State revenue up 7.5% in 10 months

THE PANAMA state coffers  received $382 million or 7.5% more in the first 10 months of the year  than in the same period of 2015.

In total, the state treasury received $5.445 billion against $5.063 billion in 2015.

The increase is explained by a 10.8% increase in tax revenues which generated $4,373.2 billion, more than during the previous year.

The Directorate General of Revenue said that the improved figures are  the result of inspection operations to verify the billing in  stores and the implementation of a collection center, among other measures.

Meanwhile, non-tax revenues from fees, concessions and contributions received for State  participation in public enterprises performed slightly lower.