The Tax Authorities, Tax Administration Authority (TAJ) is reporting that Taxes has exceeded targets for the First Quarter under review.
Taxes for the First Quarter reached almost 7 Billion above Target. The collections targetted was 26.2 Billion for the First Quarter, but reached 32.8 Billion, 6.6 Billion above target.
TAJ said it’s First Quarter performance has been positive over recent years.
LBC NEWS ANALYSIS.
The positive intake from the TAJ means government has more money to, spend if it so chooses on its program and policies.
The positive intake seems to validate the government push to go in the direction of indirect taxation is working superbly.
Not only that, but the 1.5 Million Tax break instituted by the Government, in two phases are reaping it’s intended purposes, as the Finance Minister, Audley Shaw made clear. The policy was criticized by the then PNP Government as robbing the country of needed resources and would never work.
At the time they charged that Taxes would suffer as a result.
That has now been proved wrong. Revenues are exceeding targets and the outlook is set to continue going into the Second Quarter.