TAJ Surpasses Q1 Collections Targets

Tax Administration Jamaica, TAJ, has exceeded its first quarter collections target by almost $7-billion.

In a statement today, the TAJ says its net projection for June was $26.2-billion.

However, net collections totaled $32.8-billion; $6.6-billion more than its target.

The TAJ says year to date, net collections stand at $73.6-billion.

This is approximately $6-billion more than the $67.3-billion that was projected for the period.

It also says the refund payments made during the same period totaled $1-billion, with Year-to-date refund payments totaling approximately $4-billion.

TAJ says first quarter performance over the last three financial years have consistently over performed.

It says the positive outcome, so early in the financial year is as a result of the continued focus on compliance strategies which have resulted in it surpassing its annual target for the past two fiscal years.