Financial Review
Current Revenue for 2017 is projected at $192,673 million, exceeding budget by $6,651 million or 4%. Internal Revenue and Customs & Trade Administration receipts are expected to surpass their budgets by $8,098 million and $2,376 million respectively, while Value-Added and Excise taxes are expected to have a shortfall of $3,983 million.
More specifically, Corporation Taxes and Income Tax will exceed budget by $6,091 million and $2,082 million respectively. Value Added Tax (VAT), which was budgeted to bring in $45,180 million will fall short of that target by $4,749 million. Excise Tax is expected to increase by $806 million compared to a budgeted of $34,369 million.
The Minister indicated that tax receipts from oil and gas support activities are expected to increase by $3.2 billion while