Vol. 35 No.40
       ©2007 Marianas Variety
Thursday, May 10, 2007 www.mvariety.com
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Revenue collections up by $4M in 2nd quarter of FY2007

By Nazario Rodriguez Jr.
Horizon news staff

The national government has increased by about $4 million its revenue collections for the second quarter of Fiscal Year 2007 compared to the first quarter figures.
Data submitted last week by the Ministry of Finance to the Olbiil Era Kelulau showed that the total revenue received from the period January 1 to March 31 was $17,560,727 or 46 percent of the appropriated $38,557,417 with a balance to collect of $20,996.690.
The total figure during the previous quarter (Oct. 1, 2006 to Dec. 31, 2006) was $13,512,900.
Collection of taxes alone for the second quarter reached $15,165,920, which was over $3 million compared to the $11,815,400 received in the first quarter.
The following figures are those received from the various taxes for second quarter: business gross revenue ($5,206,396) salary and wages ($3,476,372), general import ($3,267,497), hotel occupancy ($824,583), traveler’s head ($819,014), fuel excise ($443,761), fish export ($438,870), delinquent taxes, penalties and interest ($419,845), road use ($232,295) and all other taxes ($37,287).
The figures showed that the business gross revenues have increased in the second quarter as compared to the first quarter amount of $4,975,361.
Water utility revenue for second quarter was pegged at $343,616.
Licenses and fees totaled $1,477,788. This includes business licenses and fees ($194,089), fishing right licenses ($49,388), foreign labor permit and fees ($451,610), port use fees ($485,379), and other fees and permits ($297,322).
Postal revenues amounted to $182,948, including postal sales and services ($174,729) and philatelic sales ($8,219).
The total collections for fees and fines was $102,047 and revenues from services were $43,015 for interest earning on non-compact funds and $245,393 for all other revenues.