The government of Sint Maarten recorded over the first half of the year an 11% drop in its tax revenues, which amounted to 138 300 million naf, or 164 million dollars (76,83 million euros ). This is 64,84 million less compared to June 9,77.
Almost 60% of the half-year revenues were collected during the first quarter; over this period, they show an increase of 10% with 4,26 million more collected compared to 2019. These results made it possible to compensate for the 32% decrease observed during the second quarter: between April and June, revenues are lower $ 14 million compared to 2019 and $ 16,78 million compared to January-March 2020.
In relative terms, the largest drops compared to 2019 are seen in revenue from taxes on times share (-33%) and car rentals (-37%).
The receipts of the tourist tax decreased by 30% to amount to 1,21 MUSD against 1,73 million last year at the same time.
In absolute value, the revenues that have decreased the most over the half-year 2020 are those from taxes (3,24 M) which amounted to 30 million dollars on June 36,42.
What the government classifies as “other revenue” also fell by 10%, from $ 38,64 million to $ 34,97 million.
Finally, the revenue from the turnover tax, ie the equivalent of the TGCA on the French side, also fell (-18,8%) at the end of June to reach 32,43 million dollars. While during the first quarter, they had increased by more than 15% compared to 2019, they fell by more than half in the second quarter over one year. (soualigapost.com)
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