Jamaica Customs Collects $134 Billion

For the financial year 2013/14, the Jamaica Customs Agency’s net revenue collected was $134.254 billion, some $14.172 billion or 12 per cent above the previous year.

This was disclosed by Minister with responsibility for the Public Service, Hon. Horace Dalley, during his contribution to the 2014/15 Sectoral Debate in the House of Representatives, Tuesday, July 8.

He said that as at June 18, 2014, the year to date (YTD) target for the current fiscal year was $27.896 billion, while the YTD collection was $28.270 billion, exceeding the current YTD target by $0.374 billion or 1.34 per cent.

He added that since the Jamaica Customs Department was accorded Executive Agency status, it has improved its performance as the second largest revenue collection agency of the State.

The Minister commended the staff and the team at the Jamaica Customs Agency for the work they have done.

In the meantime, he said the new tax reform measures also make special provisions for improving efficiency and customer relations at Customs.

Some of the new reform measures include: amendment to the Customs Tariff in relation to retaining the recently changed five per cent duty on Light Emitting Diodes (LEDs), in keeping with the Government of Jamaica stated Energy Policy; reform of the Provisions of the Customs Regulations to update the schedule to reflect current best practice and improve the administration of the Customs Act.

Other reforms are: amendment of the Customs Act to allow for Common External Tariff  (CET) suspension to allow for a standardized, criteria driven application in accordance with the Treaty of Chaguaramas; and amendment to the existing Customs Act to provide for the implementation of the Automated System for Customs Data (ASYCUDA), to enhance border control and protection.

He informed that the ASYCUDA system is now being implemented; adding that the ASYCUDA feasibility study projects that Customs revenue will increase by 10 to 20 per cent once the system is fully implemented.

The implementation of the system will guarantee transparency, uniformity/standardization and consistency of Customs procedures. The ASYCUDA project will improve Customs control and risk management capabilities, thereby reducing the incidents of smuggling.

Mr. Dalley added that this is part of the refocused public sector transformation programme to enhance Jamaica’s ‘Doing Business’ profile.