First month?s G.S.T. collections beat projections

It was implemented on July first and today we are informed that the first month’s figures on G.S.T. indicate that the new tax’s collection is running an impressive thirty-three percent ahead of initial projections. G.S.T. Commissioner Beverly Castillo, while cautioning that it is far too early to make definitive conclusions, told News Five that compliance among taxpayers was strong and her department will continue its campaign of public education to make the business community aware of its obligations. The ten percent levy on consumption replaced the nine percent sales tax and is said to be both more equitable and easier to police than its predecessor. Approximately half of government’s G.S.T. collections are made at the point of customs entry and the other half from transactions in the general economy.