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Govt revenue up $59 mil. year over year in Sept.
November 03, 2022
Govt revenue up $59 mil. year over year in Sept.
Government revenue improved by $59 million year over year at the end of September, standing at $196.2 million. The Ministry of Finance said in a statement yesterday that this improvement in revenue, alongside contracted aggregate expenditure of $52.7 million during the month, resulted in a deficit of $22 million. That represents a $73.5 million decrease from the ...
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October 13, 2022
Ministry of Finance's July numbers show revenue collection improvements
The Ministry of Finance (MOF) released its monthly fiscal report for July 2022 yesterday, revealing in a statement that during that month, revenue increased compared to the same period last year by 7.9 percent or $19 million to end at $259.1 million, owing the increases largely to revenue collection from international trade and transaction taxes, other ...
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Improved revenue no surprise, says opposition
September 14, 2022
Improved revenue no surprise, says opposition
East Grand Bahama Member of Parliament Kwasi Thompson, who is also the opposition's shadow minister of finance, said yesterday that the significant revenue increase touted by the government is no surprise given that the economy is now more open than it was during the COVID-19 emergency orders. The recently released Twelve Month Report on Budgetary ...
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$700 million revenue jump
September 13, 2022
$700 million revenue jump
The government's revenue collections increased by over $700 million in the 2021/2022 fiscal year when compared to the previous fiscal year, the Ministry of Finance reported last night. The improved revenue of $2.6 billion represents an increase of $364.1 million over the original revenue forecast for the fiscal year (which ended June 30) and $269.8 ...
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September 05, 2022
27.5 % revenue decline in June compared to previous fiscal year
Timing delays related to tax payment resulted in a 27.5 percent decline in revenue during the month of June, the Ministry of Finance said yesterday. Still, revenue was up month-over-month by 6.8 percent driven by higher input from trade transactions, according to the June 2022 Monthly Fiscal Summary Report. "During the month of June 2022, ...
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Revenue target strategy raises questions
August 24, 2022
Revenue target strategy raises questions
The Ministry of Finance released its "Securing the Revenue Target of 25% of GDP" Monday night in line with the 2021 Fiscal Strategy Report. Curiously, the revenue report, which was authored in March, was not tabled or directly discussed during the last budget exercise. One of the main objectives of the Davis administration is to ...
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Govt revenue dips in May, but still higher than 2021
August 09, 2022
Govt revenue dips in May, but still higher than 2021
There was a 38 percent dip in government revenue during the month of May, however year over year tax revenue was up 23 percent, the Ministry of Finance (MoF) revealed in the Monthly Fiscal Summary Report for May, which was released yesterday. During May, MoF said, fiscal activities resulted in an $80.8 million deficit, which is ...
The post Govt revenue dips in May, but still higher than...
July 15, 2022
PM: Govt will receive 85 percent of carbon credit revenue
The government will directly receive 85 percent of the initial revenue generated from the sale of the country's blue carbon assets, and will benefit from a 49 percent ownership stake in the management company that will oversee the monetization of carbon credits, Prime Minister Philip Davis revealed yesterday. Davis said the government entered into a ...
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VAT revenue behind this quarter
January 19, 2018
VAT revenue behind this quarter
DEPUTY Prime Minister Peter Turnquest said while Value Added Tax revenue is behind this quarter, the government fully expects the economy to pick up resulting in better VAT results.
BCCEC: 90 percent of businesses in revenue slump
May 26, 2021
BCCEC: 90 percent of businesses in revenue slump
A recent survey of businesses on New Providence, conducted by the Bahamas Chamber of Commerce and Employers Confederation (BCCEC), shows that revenue remains down for 90 percent of them and in nearly half of those cases, revenue was down by 60 percent or more.
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