KINGSTON, Jamaica – The Jamaica Customs Agency (JCA) reported Monday that it has exceeded the government’s year to date (YTD) revenue target by nearly J$12 billion at the end of the third quarter for the financial year 2014/15.
The Agency collected gross revenue of $118.911b compared to a target of $106.963b, a surplus of $11.948b or 11 per cent. This collection is also 83 per cent of the overall year to date Ministry of Foreign Affairs and Planning target of $142.777b. Revenue collection YTD was $11.458b or 9.7 per cent greater than the previous financial year’s collection of $104.737b.
The JCA noted that net collections amounted to $108.545b, a surplus of $1.582b or 1.5 per cent above target.
Tax revenue collections amounted to $98.057b, a surplus of $245.226m or 0.3 per cent above target. For the month of December, gross revenue collections amounted to $17.202b, which was $3.855b or 29 per cent above the target of $13.346b. When compared with December 2013, gross collections increased by $3.797b or 28 per cent, JCA reported.
The JCA says it continues its transition to an executive agency, which will see even “greater efficiency and enhanced client services, as we facilitate trade and protect our borders with the ultimate goal of collecting the much-needed revenue; thus assisting in stabilising the Jamaican economy”.
