Connect with us

News

Rodrigues Forecasts Record Rs 156.6 Million Tax Revenue in Current Financial Year

Published

on

Rodrigues Forecasts Record Rs 156.6 Million Tax Revenue in Current Financial Year

The island of Rodrigues is projecting a record Rs 156.6 million in tax revenue for the current 2024/25 financial year, according to figures presented by Prime Minister Navin Ramgoolam. The figure represents the highest fiscal receipts from economic operations over the past three years.

This was disclosed as the Prime Minister, who also serves as Finance Minister, addressed a parliamentary interpellation by MP Jacques Edouard regarding the public accounts of Rodrigues.

Budget and Expenditure Highlights

While the average annual fiscal receipts stand around Rs 150 million, the overall budget allocated to Rodrigues for the present financial year is substantially larger, estimated at Rs 10.1 billion.

The Prime Minister provided a breakdown of the planned expenditure from this budget:

  • Rs 5.78 billion: Funding for operations under the control of the Rodrigues Regional Assembly.
  • Rs 1 billion: Earmarked for the construction of the regional airport runway at Plaine-Corail.
  • Rs 340 million: Allocated to the water sector.
  • Rs 223 million: Designated for subsidies on the prices of essential commodities, including rice, flour, petroleum products, and cement.
  • Rs 60 million: Reserved for Land Drainage projects across the island.

Recent Tax Revenue Trends

The total revenue collected by the Mauritius Revenue Authority (MRA) in Rodrigues over the last three financial years demonstrates a fluctuating trend, with the current forecast reaching a new peak:

Financial YearTotal Fiscal Receipts (in millions of Rs)
2024/25156.6
2023/24137.4
2022/23148.0

Breakdown of Key Tax Streams

Income Tax Revenue (in millions of Rs)

Financial YearIncome Tax
2024/2578.6
2023/2468.7
2022/2381.5

Value Added Tax (VAT) Revenue (in millions of Rs)

VAT has shown a steady increase in revenue generation over the same period:

  • 2024/25: Rs 76.4 million
  • 2023/24: Rs 67.3 million
  • 2022/23: Rs 64.8 million

The Prime Minister’s comprehensive account provides a clear overview of Rodrigues’s public finances, highlighting both the significant overall allocation and the projected growth in locally generated fiscal revenue.

Source: Le Mauricien

Spread the News
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *