NASSAU, BAHAMAS — The government saw revenue receipts totaling $232.1 million, with Value-Added Tax (VAT) accounting for just over 50 percent of that intake, according to recent data from the Ministry of Finance.
The Ministry of Finance in its monthly fiscal summary report for January 2022 noted that revenue receipts for the month totaled $232.1 million.
“Of this total, tax collections of $189.9 million were largely supported by $126.8 million in VAT receipts, $34 million in international trade and transaction taxes, $27.9 million in other taxes on goods and services and $9.4 million in property taxes,” the report read.
Non-tax revenue collections of $42.2 million consisted of $142 million from sales of goods and services, and $27.9 million in other non-tax revenue.
According to the Ministry of Finance, the net fiscal deficit for January totaled $9.3 million as a result of the $231.2 million in revenue receipts and $241.5 million in total expenditure.
“Central government’s net debt decreased during the month by $58.9 million as a result of $52.3 million in borrowings, and $112 million in repayments.”
Expenditure for the month was $241.5 million, with recurrent expenditure at $220.1 million, Capital expenditures totaled $11.3 million. During the month of January, the country’s net deficit was $9.3 billion.
Loading ...
