Tax revenue collections for the month of July exceeded forecast by $6.8 million.
Fiji Islands Revenue and Customs Authority CEO Jitoko Tikolevu said the net tax revenue collected for July amounted to $110.9 million, representing an increase of 16.9 percent over last year's level.
Tikolevu said on a cumulative basis, net tax collection exceeded forecast by $20.8 million, which is 7.2% higher than the same period last year and increases were noted in all major components of revenue.
However, Tikolevu said collection from PAYE declined by $1.6 million, attributed to the increase in the income tax threshold which came into effect from June 1st. VAT Collections totaled $45.2 million, up 25 percent from 2007 and VAT collections from imports continue to increase significantly on an annual basis and stood at 52.5 percent for July.
FIRCA said the higher VAT collection is reflecting global commodity price increases in food and fuel which has intensified the imports bill.
Tax Revenue Collections Exceed Forecast by $6.8m
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