Treasury receives $1.76 billion in April

General fund net income totalled $1,763.8 million for April of 2019, 47.7% more than the $1,194.4 million reached on March of 2019. This great change in month to month income is mainly reflected on a 89.4% change in revenue from contributions for the month of april, this is normal as april is the last month that both corporations and individuals have to file their taxes with the Department of Finance.

On the other hand, general fund income also experience a significant year to year increase of $320.7 million or 22.23% when compared to the $1,443 million reported in April of 2018.The increase in revenue from contributions was the main driving force for the increase in general fund income as sales tax revenues decreased by 3.9% when comparing April 2018 to the same month of the current year. Revenue from individual contributions increased by 22.3% while revenue from corporate contributions reached 34.3% to help fuel the $232.5 million or 25.7% increase in revenue from contributions. According to a statement made by the secretary of finance revenue from corporate contributions exceeded initial estimates.