The Government is expecting to see a 5.3 percent increase in tax revenue in 2022. This is according to this country’s Minister of Finance the Hon. Camillo Gonsalves, during the laying of the budget estimates earlier this week.
“Tex revenue is expected to increase by 5.3 percent, as the major tax types are expected to contribute as follows; Taxes on income and profit: estimated to grow by 1.2 million dollars or 0.8 percent. Taxes on goods and services are expected to increase by 4.2 million dollars or 2.2 percent. Taxes on international trade and transactions to go up by 4.1 percent 6.7 million dollars.” He said.
Minister Gonsalves also touched on non-tax revenue during his presentation.
“Non-tax revenue collection in 2022 is expected is estimated at 95 million dollars, a figure that is 1.7 percent more than the amount budgeted in 2021.” He said.
