Jamaica Customs exceeds July target by 10%

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Monday, August 12, 2013 | 5:34 PM

KINGSTON, Jamaica — The Jamaica Customs Agency (JCA) says it has surpassed the Ministry of Finance and Planning’s (MOFP) target for July by 10 per cent.With gross collections of J$12.889 billion the MOFP target of J$11.901 billion was exceeded by  J$988, 048 million, Customs said Monday. adding that of the 22 collection stations island wide, fifteen exceeded their targets.The JCA says it has also surpassed the MOFP year-to-date target of J$41.709 billion by J$1.926 billion with gross collections of J$43.635 billion.Formal commercial imports (goods cleared on the C87 form) represent in excess of 80 percent of total collections, the JCA said in a release.  The JCA said that increases in Import Duty and General Consumption Tax (GCT) collections as well as the recently introduced Customs Administration Fees (CAF) have contributed to the surpassing of its targets.When compared to July 2012, Import Duty increased by 13 per cent or J$255.909 million and GCT collections increased by J$635.173 million or 17 per cent while gross collections for the CAF amounted to J$1.033 billion.Meanwhile, discretionary and Statutory Waivers combined for the month of July declined by J$1.828 billion or 15 per cent, the JCA said.Like our Facebook page https://www.facebook.com/jamaicaobserverFollow us on Twitter https://twitter.com/JamaicaObserver

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Jamaica Customs exceeds July target by 10%