Auditor General's Report on the Public Accounts of Montserrat 2004

38. Table 3 below provides a comparative summary of actual Recurrent
Local Revenue collected during 2003 and 2004. A review of the figures
indicates that Recurrent Local Revenue for 2004 fell by $697,196 or 2.12%
when compared to collections for 2003.
TABLE 3
COMPARATIVE LOCAL REVENUE SUMMARY
SOURCE OF REVENUE ACTUAL 2004 ACTUAL 2003 INCREASE/
(DECREASE)
Taxes on Income, Profit & Capital Gains 12,029,110 12,425,192 (396,082)
Taxes on Property 973,902 703,573 270,329
Taxes on Domestic Goods & Services 1,337,387 1,128,607 208,780
Licences 1,883,635 1,865,947 17,688
Taxes on International Trade & Transaction 13,435,446 12,394,640 1,040,806
Fees, Fines and Permits 884,771 765,739 119,032
Rents, Interest and Dividends 344,381 1,966,904 (1,622,523)
ECCB Profits 210,704 185,476 25,228
Reimbursements 15,394 348,097 (332,703)
Other Revenue 1,030,008 1,057,759 (27,751)
TOTAL 32,144,738 32,841,934 (697,196)
39. As seen from the Table 3 above, three revenue heads recorded
increases of over $200,000 whilst three recorded deficits greater than
$200,000 when compared with revenue collected the previous year.
40. Of the $32,144,738 collected as Recurrent Local Revenue,
$29,659,480 was collected as Tax Revenue. This represents a 4% increase
when compared with collections in 2003.
41. The Diagram 1 below compares actual revenue, by type, for the years
2003 and 2004.
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