Revenue from tax collection for the month of April surpassed all expectations by $21.8 million which is an all time high.
Figures released by FIRCA reveal that net tax collection for April totaled $113 million, representing an increase of 11.2 percent from the same period last year.
Net Income tax collection for the month of April amounted to $43.2 million, increasing by 28.2 percent compared to the corresponding period in 2008.
Acting Minister for Finance Aiyaz Sayed-Khiayum said the increase in income tax collection was attributed to significant higher collection from withholding and dividend tax which more than offset the lower collection from PAYE, Corporate Tax and other taxes.
Tax revenue surpasses expectations
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