Revenue collections up between January and July 2023

The government’s main revenue collections department, the Customs and Excise
Division, is reporting that its collections for the first seven months of the year are
up when compared with the corresponding period, last year.
Comptroller of Customs, Raju Boddu, said total collections from January to July
this year amounted to $232 million. This compares favourably with the $202
million collected for the same period last year.
Boddu said collections for the month of July were also up compared with the
seventh month last year; $32.5 million in 2023 versus $26.4 million for 2022. This
was a difference of over $6 million.
The comptroller credits increased efficiencies in the division’s efforts to curtail
leakages in the system. “We have been able to develop efficiencies in our
strategies and methods, that make it very difficult to circumvent the system. In
addition, we have a very good team of officers attached to the Deep Water
Harbour, where the bulk of the money is collected,” he stated.
The comptroller is of the view that recent statements concerning the operations at
the port are coming from those who are no longer able to avoid paying the taxes
that are due.
“Some people have been asking for the removal of certain officers and I firmly
believe that much of this ‘noise’ is being motivated because these people are no
longer able to do as they like,” he declared.
Boddu noted that imports into the country have not grown significantly between
July 2022 and July 2023. It only increased by 6.7 percent. Whilst collections for
June 2023 rose by 12 percent and subsequently rose by 14 percent for July.
“Even our tax yield at the port stands at a healthy 21 percent and would have been
higher had it not been depressed by falling oil revenues. When there is a drop in oil
prices we collect less in revenues from the commodity. This also includes the
subsidy granted to bus drivers and Barbudans. We lose an estimated $3 million
each month from consumption tax placed on petroleum products,” he disclosed.
Last year, the Customs and Excise Division collected $382 million. This compares
with the pre-pandemic figure of $389.5 million in 2019.
Boddu said the country is on course to surpass the 2019 figure this year.