SVL Increases Tax Contributions by 4%

Chairman of Supreme Ventures Limited (SVL) Paul Hoo, says in 2016 they continued to make significant tax contributions to the revenues of the Jamaican Government, totaling over $4-billion.

He says this represents an almost 4-percent increase over prior year.

The revenue was largely derived from Lottery and Gaming taxes, levies to the Betting, Gaming and Lotteries Commission and fees to the Culture, Health, Arts, Sports and Early Childhood Education (CHASE) Fund.

Supreme Ventures reported revenues increasing by 2-percent over the prior year as gross profits declined by 7-percent, due mainly to the Cash Pot liability, which was above prior year by point-31 percent.