Customs Exceeds Revenue Collection Target

Jamaica Customs Agency says it has surpassed its target for revenue collections in April, the first month of the new fiscal year.

The agency says it exceeded the Ministry of Finance and Planning revenue target of 11-point-2 billion by 1-point-7 billion dollars or 15 percent.

The revenue collections by Jamaica Customs during April also came it at 2 billion dollars or 19 percent more than the amount collected for the same period last year.

Meanwhile, the agency says at the end of the last fiscal year gross collections were 158-point-7 billion dollars which was almost 16 billion dollars or 11 percent above the target.

This was also 15 percent higher than the amount collected in the previous 2013-2014 fiscal year.

Jamaica Customs says last fiscal years revenue outturn was achieved despite additional waivers and incentives of 9 billion dollars being granted to the productive sector.

For the current  2015-2016 fiscal year, Jamaica Customs says it plans to continue to improve its business processes through the implementation of the Automated System for Customs Data.

It says the new automated system will result in greater efficiency and an improvement in service to clients.