{"id":198554,"date":"2024-04-11T09:37:14","date_gmt":"2024-04-11T13:37:14","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=198554"},"modified":"2024-04-11T09:54:16","modified_gmt":"2024-04-11T13:54:16","slug":"antigua-government-revenues-double-in-the-first-three-months-of-the-year","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/antigua-government-revenues-double-in-the-first-three-months-of-the-year\/","title":{"rendered":"Antigua Government revenue doubles in the first three months of the year"},"content":{"rendered":"
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CABINET NOTES: <\/strong>The Cabinet invited a team of seven officials from the Ministry of Finance to provide a monthly update on revenue collections and expenditure, and other items, which answered many questions posed by Cabinet Ministers.<\/p>

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Tax exchanges, for example, have been limited by Cabinet to $2.5 million monthly; they are actually a set-off against what might be owed by the taxpayer to the Government against what is owed by the Government to the business entity.<\/p>

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The Treasury paid-out over $250 million last month, despite a gap of little more than $100 million.<\/p>

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The Finance team repeated that the amended law limits the authority to grant waivers\/exemptions to the discretion of the Minister of Finance only.<\/p>\n

In order to close the gap, the Cabinet decided that fewer concessions, larger non-tax-revenue intake, and lowered expenditure will have to be pursued.<\/p>

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Revenue performance from January to March 2024 was twice as much as compared to January to March 2023.<\/p>\n

The Cabinet nonetheless decided that payments to new pensioners ought not to take as many as twenty-four months before the first payment is made.<\/p>

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Consequently, a directive was given to the Accountant General to speed up those payments to new pensioners who are sometimes without an alternate income.<\/p>

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The payments of gratuities are to be treated in the same way.<\/p>\n

The Cabinet was reminded by the team that three additional obligations will have to be met in the year 2024 that were not on the calendar in 2023: a) The SIDS4 Conference<\/strong> May 27- May 30; b) Cricket World Cup;<\/strong> c) LIAT 2020.<\/strong><\/p>\n

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CABINET NOTES: The Cabinet invited a team of seven officials from the Ministry of Finance to provide a monthly update on revenue collections and expenditure, and other items, which answered many questions posed by Cabinet Ministers. CLICK HERE TO JOIN OUR WHATS APP GROUP Tax exchanges, for example, have been limited by Cabinet to $2.5 […]<\/p>\n","protected":false},"author":3,"featured_media":111929,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-198554","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nAntigua Government revenue doubles in the first three months of the year - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/antigua-government-revenues-double-in-the-first-three-months-of-the-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Antigua Government revenue doubles in the first three months of the year\" \/>\n<meta property=\"og:description\" content=\"CABINET NOTES: The Cabinet invited a team of seven officials from the Ministry of Finance to provide a monthly update on revenue collections and expenditure, and other items, which answered many questions posed by Cabinet Ministers. 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