Customs surpasses targets, collections gross $43.63b
The Jamaica Customs Agency surpassed the Ministry of Finance and Planning's target for July by 10 per cent.
It says gross collections totaling $12.89 billion was $988 million more than the $11.9 billion projected by the finance ministry.
The agency also says it has surpassed the year to date target by five per cent with gross collections of $43.63 billion.
It says formal commercial imports represent more than 80 per cent of the Agency's total collections.
And it notes that an increase in Import Duty and General Consumption Tax collections and the recently introduced Customs Administration Fees has contributed to the surpassing of targets.
In the meantime, Discretionary and Statutory Waivers combined for the month of July declined by $1.83 billion or 15 per cent.
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