Previous Story
Govt revenue collections reach $55.2M in Q2
|
Posted on Sep 29 2004
Government tax collections increased to $55.2 million during the year’s second quarter, nearly $3 million higher than the total tax collections during the previous quarter.
The second quarter’s total collection reflects a 4.7-percent surge from the first quarter’s collection of $52.72 million.
Compared to 2003’s second quarter collection, government revenue also posted an increase from that period’s $54.58 million collection.
Business Gross Receipt Tax contributed mainly to the latest figures released by the Department of Commerce, with a total of $14.13 million being collected during this year’s second quarter.
Wage and salary tax reached $9.36 million, while territorial and corporate income taxes contributed $2.87 million to the total collections.
Garment certification fee went down slightly to $6.89 million compared with the previous quarter’s $7.77 million. Excise tax collections also went down to $5.73 million, down from the previous period’s $6.11 million.
Collections on hotel occupancy and bar taxes dropped to $1.38 million and $2.24 million, respectively, compared with the previous quarter’s totals of $1.7 million and $2.67 million.
The Commerce Department noted, however, an increase in other revenue collections that totaled $12.6 million, up from the previous quarter’s $9.74 million.
