Revenue collected by the Customs Department has surpassed $1 billion dollars for the first time.
Acting Customs Comptroller Ralph Munroe says revenue has exceeded government projections by 20%. “Our revenue collection on this side was $1.18 Billion which was $140 million above our projection and that’s 20% over what we collected last year.”
Bahamas Customs is also experiencing a rise in revenue collected at the Lynden Pindling International Airport after the introduction of the Exempt App. Munroe also commented on what he expects from this fiscal year. He said, “a year from now, I believe with all things in place, of course we’ve also got to look not so much only at what we do as law enforcement officers with respect to revenue. But of course there’s growth in the economy, more people have money, they travel, they bring more items and so that’s a reflection. I have no doubt that we’ll probably double revenue if people continue to move goods as passengers rather than just always couriers. People are sophisticated today and they use a lot of courier services so it depends on the trend. But all things being equal I have no doubt that within a year from here probably another year and a half we’ll probably double the revenue.”
