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EPOC Chairman Keith Duncan
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Keith Duncan
Jamaica earned more revenue than budgeted for April to September.
Economic Programme Oversight Committee (EPOC) Chairman Keith Duncan says revenue and grants for the period amounted to $427.1 billion.
This surpassed the second supplementary estimates by $8.4 billion, which is two per cent ahead of budget.
Tax revenues amounted to $390.1 billion, or 1.8 per cent ahead of budget, while non-tax revenues came in at $32.5 billion.
"This was actually a 14.6 per cent performance improvement compared with last year for the same period. In other words, tax revenues increased year over year by $49.7 billion," Mr. Duncan noted.
He said this performance was linked to a marginal increase in some receipts.
"PAYE...as ahead of budget by $5.3 billion, SCT imports higher by $2.9 billion and other companies like taxes on profits were ahead of budget by $2.5 billion. So therefore, from an overview of the economy, we can see this has been driven by stronger economic performance than budgeted, along with improvements in Jamaica's labour market," he outlined.
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