Tax shortfall over 6 million tala
The Government’s tax collection for the December quarter of 2016 showed a shortfall of $6.6 million compared to the same quarter the previous year (2015).
This is according to the Samoa Bureau of Statistics Quarterly Report which was published on 13 April 2017.
The total tax collection amounted to “$128.7million.”
“The shortfall was attributed to a drop in Value Added Goods and Services Tax (V.A.G.S.T.) category by $9.2 million from 2015 offsetting the combined increase of $5.0 million from taxes on properties, excise tax and taxes on specific services.
“As a result, taxes contributed a negative 6.3 percent to overall revenue change, ” according to the government’s financial report.
Further, the financial report says that “total receipts for the quarter under review was $145.9 million and it was comprised of taxes of $128.7 million maintaining its level from September 2016 other revenues of $17.1 million and grants being the least contributor to total receipts with a total of $0.2 million.
“Total receipts declined by 8.5% over the same quarter of the previous year.
“The overall result reflects the poor performance in the December 2016 quarter by the two components namely grants and taxes, recording notable decreases of $9.9 million and $6.6 million from their corresponding periods of 2015,” says the financial report.