HomeBusinessComptroller Reports Record Revenue Despite Worries Over Increasing Exemptions

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Comptroller Reports Record Revenue Despite Worries Over Increasing Exemptions

Customs revenue hits record levels, but rising exemptions prompt caution from the Comptroller.

By Jerry Sylvester

September 23, 2024

Comptroller Boddu reports record customs revenue while warning about the effects of growing exemptions.

customs_slide4 — Comptroller Boddu reports record customs revenue while warning about the effects of growing exemptions.

Customs Comptroller Raju Boddu announced a record-high revenue for the Customs Division up to August 2024, despite concerns about rising exemptions that could affect future government earnings.

Exemptions totaled EC$235.02 million, an increase of EC$1.99 million from the previous year, with EC$35.97 million being discretionary.

In August alone, while vehicle exemptions amounted to EC$0.46 million, duties and taxes collected still reached EC$1.21 million.

Overall, August 2024 revenue was EC$33.58 million, marking an 8.32% increase from 2023. From January to August 2024, total revenue hit EC$312.29 million, a 19.66% rise compared to the same period last year.

Boddu remains cautious about the long-term impact of growing exemptions on revenue.