Tax Revenues 4% Ahead of Estimates

Jamaica’s tax revenues are 4-percent ahead of estimates for the first four months of the current fiscal year.

That’s according to Finance Minister Dr. Nigel Clarke. He was speaking this morning at a Tax Audit and Revenue Administration graduation ceremony.

Dr. Clarke says this is a good indicator that government efficiency is improving.

Finance Minister, Dr. Nigel Clarke, says despite levying no new taxes to supplement the budget for the current fiscal year, revenues are 4 percent ahead of estimates.

He says the tax administration of Jamaica should be lauded for their efforts.

If the current pace of revenue collection is maintained, by the end of the financial year the country could see almost $20-billion in additional revenues. This would mean an estimated total of $538-billion in total tax revenue this fiscal year.

Dr. Clarke says this shows the improvements from public sector transformation are already being felt in tax administration. He says that efficiency contributed to the achievement of not requiring additional taxation measures for the financial year.

Dr. Clarke says this is the first time in as much as a decade.

He was giving the keynote address this afternoon at a Post Graduate ceremony for the Tax Audit and Revenue Administration’s 29th and 30th cohorts.

Dr. Clarke urged the new graduates to contribute positively to the further transformation of the public sector.

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