Prime Minister of Dominica, Roosevelt Skerrit has revealed the tax revenue earned by the Government for October and November stating that it is nowhere close to the money spent by Government on a daily basis.
Skerrit, who was speaking at the press briefing on Wednesday, stated that VAT and import duty were impacted as many merchants do not pay these taxes on numerous items that are imported.
“Just to give the country an idea of the situation so far as revenue is concerned for the months of October and November. In terms of tax revenue, we were able to raise only 1.1 million dollars for personal income tax. In terms of cooperate income tax, we raised 0.07 million dollars. In terms of VAT 3.3 million dollars was raised, and import duty, 0.8 million was raised, because you realize that the merchants pay no VAT at the port and also no import duties for a wide range of items which come into the country,” Mr. Skerrit stated.
Mr. Skerrit then noted that while a raise in personal income tax was seen, a decrease on all other aspects was noted. He stated that the money raised is significantly lower than what the Government spends monthly.
“In terms of tax revenue for November, personal income tax 4.3 million dollars was raised, and that 4.3 million dollars include the taxes on what is popularly known as the ‘double bubble.’ In respect to cooperate income tax we have only raised in the month of November, 0.002 million dollars. In VAT, we raised 0.3 million dollars and import duties 0.4 million dollars. So this is the government’s tax revenue for the past two months, and this is nowhere, absolutely nowhere close to what the government spends on a monthly basis,” Mr. Skerrit further added.