Boddu Concerned Over EC$235 million in Exemptions Up to August 2024
The Comptroller of Customs, Raju Boddu, has raised concerns about the impact of exemptions on the government’s revenue streams.
Despite the Customs Division achieving record revenue figures, Boddu is worried that the increasing number of exemptions is affecting the revenue.
The total exemptions granted up to August 2024 amounted to EC$235.02 million, compared to approximately EC$233.03 million in August 2023, indicating an increase of $1.99 million, or about 0.85 percent, in exemptions for the same period.
Boddu highlighted that of the total EC$235.02 million exemptions, approximately EC$35.97 million, or 32.49 percent, were discretionary exemptions.
He also noted that around EC$0.46 million for vehicles in August 2024 accounted for 99 vehicles, resulting in duties and taxes collected amounting to EC$1.21 million.
On a positive note, the revenue for August 2024 reached $33.58 million, a notable increase from the $31.0 million collected in the same month of 2023, as reported by Raju Boddu.
This reflects a rise of $2.58 million, or an 8.32 percent increase.
The positive revenue trends persisted through the end of August, culminating in a total of EC$312.29 million for the period.
This figure represents an increase from EC$260.98 million recorded from January to August 2023, marking an improvement of EC$51.31 million, or a 19.66 percent increase.
This story was first published by Antigua News on : antigua.news/2024/09/23/boddu-concerned-over-ec235-million-in-exemptions-up-to-august-2024. © 2024 Antigua News. Republication without permission is not allowed.
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Antiguan Patriot. September 23, 2024, 8:07 AM