TAX NEWS - JUNE 2010

Colombia Tax: Colombia Tax Revenue in Jan-May Up 1.9% On Year To $14.6 Bln

BOGOTA -- Colombia government collected 28.63 trillion Colombian pesos ($14.6 billion) in taxes in the first five months of this year, a 1.9% increase from the same period in 2009, the country's tax agency, known as DIAN, said Tuesday.

The government's goal for the first five months of this year was COP28.32 trillion.

The tax collection in all of 2009 reached COP68.9 trillion.

For 2010, tax collection is expected to reach COP69.7 trillion.

Colombia government expects to report a consolidated budget deficit equivalent to 3.7% of its gross domestic product in 2010, up from 2.8% in 2009.