Finance Minister Commends $59.3-Billion Revenue Intake by Customs

Finance and Public Service Minister, Hon. Audley Shaw, has applauded the Jamaica Customs Agency’s (JCA) $59.3-billion revenue intake for the first four months of the 2016/17 fiscal year.

The figure, which covers the period April to July, is just over $400 million or 0.76 per cent above the $58.9 billion target.

It incorporates tax revenue generated from import duty, General Consumption Tax (GCT), Special Consumption Tax (SCT), travel tax and warehouse fees, among other categories.

The year-to-date outturn is also $6.3 billion or 12.15 per cent above the $52.9 billion intake for the corresponding period in 2015/16.

The figures were outlined during a special meeting with the JCA’s management and staff at the agency’s Newport East offices in Kingston on August 9.

Deputy Chief Executive Officer in charge of Operations at JCA, Karlene Henry, informed that the agency met its revenue targets for all months except July, which recorded an intake of $14.11 billion.

She said the outturn was $1.6 billion or 11 per cent below the target of $15.8 billion and was attributed to underperformance in categories such as travel and fuel tax.

Mrs. Henry gave the agency’s undertaking to institute additional measures to further boost revenue inflows.

In commending the JCA, Mr. Shaw said notwithstanding July’s shortfall, “you have been performing in the other months…you have absorbed the hiccup to still show a positive outturn for the (first) four months of the fiscal year”.

Mr. Shaw, who also toured the JCA’s complex, was accompanied by State Minister, Hon. Rudyard Spencer, and Senior Advisor, Senator Aubyn Hill.