Tax Administration Surpasses Q3 Collection Target by 27%

Tax Administration of Jamaica, TAJ, says it’s exceeded its tax collection target for the third quarter of fiscal year 2016/2017 by almost $7-billion.

In a statement today, the TAJ says this is 27-percent above the the $20-billion target.

It says this puts year to date net collections at $192-billion which is $12.6-billion or 7-percent above the projected target of $179-billion.

The TAJ says the performance continues a positive trend which was set over the previous two quarters and during the financial year 2015/2016.

It’s attributing the positive outcome to the continuation of focused compliance strategies.

It says this includes closer monitoring of arrears facilitated through the implementation of the Revenue Administration Information System.

The TAJ says it’ll continue to use all avenues available to encourage and foster voluntary compliance.