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Despite the recession and the reduced amount of imports, Jamaica Customs has seen a marked increased in its revenue collection since it began implementing more stringent measures at the country's ports.
Speaking at the RJR Group's News Forum on Friday morning, Commissioner of Customs, Danville Walker says the department earned over two billion dollars more in the last quarter than projected.
“Since this calendar year we have definitely seen an up tick in the revenue that we have collected. The last quarter resulted in $2.9 billion of revenue above our target. I think this is pretty impressive in my view so it means that customs in collecting more which definitely speaks to increased vigilance and a stemming of the leakage,” Mr. Walker said.
Mr. Walker says these leaks come largely from under-invoicing where persons try to pay lower taxes on their goods.
He explains what the department is doing to try to stem this problem.
“Why it is very challenging is that the vendors that these importers purchase from are very cooperative with them in providing them with false invoices to present to customs,”
“The Tax Administration has a number of initiatives to address this where we combine the audits of customs and the tax TAD so that we can find the correct invoices. We are also strengthening our ability to do forensic accounting overseas so we will be able to find the persons that perpetrate this fraud,” Mr. Walker said.
Jamaica Customs has also increased the staff complement at the ports to enhance border security.
http://rjrnewsonline.com/news/local/...nue-collection
Speaking at the RJR Group's News Forum on Friday morning, Commissioner of Customs, Danville Walker says the department earned over two billion dollars more in the last quarter than projected.
“Since this calendar year we have definitely seen an up tick in the revenue that we have collected. The last quarter resulted in $2.9 billion of revenue above our target. I think this is pretty impressive in my view so it means that customs in collecting more which definitely speaks to increased vigilance and a stemming of the leakage,” Mr. Walker said.
Mr. Walker says these leaks come largely from under-invoicing where persons try to pay lower taxes on their goods.
He explains what the department is doing to try to stem this problem.
“Why it is very challenging is that the vendors that these importers purchase from are very cooperative with them in providing them with false invoices to present to customs,”
“The Tax Administration has a number of initiatives to address this where we combine the audits of customs and the tax TAD so that we can find the correct invoices. We are also strengthening our ability to do forensic accounting overseas so we will be able to find the persons that perpetrate this fraud,” Mr. Walker said.
Jamaica Customs has also increased the staff complement at the ports to enhance border security.
http://rjrnewsonline.com/news/local/...nue-collection
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