21. Information received from the Accountant General indicates that current revenue for the period April 1st to June 30th, 2011 was $584.7 million, an increase of $43.9 million or 8.1% from the amount recorded for the corresponding period during 2010.
22. Taxes on incomes and profits realised $206.5 million, an amount of $3.8 million more than collected for the corresponding period in 2010. Corporation Taxes continued its decline falling by $1.6 million for the period under review. The five (5) companies making the greatest contribution for income year 2009 were analysed. Only one (1) of these has already filed for income year 2010. This difference is also linked to companies expecting their taxes payable to be reduced or the expectation/knowledge of losses. With respect to income taxes, $0.4 million less was recorded for the period April to June 2011. It should be noted that refunds of income tax were $11.1 million for the period under review while they were $0.9 million for the corresponding period in 2010-2011. Withholding taxes increased by $5.8million to an amount of $23.7 million.
23. Taxes on property increased by $1.9 million over the corresponding period in 2009-2010 to $6.5 million.