ANNUAL REPORT & STATEMENT OF ACCOUNTS 42
VALUE OF EXEMPTIONS GRANTED ($000) Revenue Collection Conditional Exemptions Unconditional Exemptions Total Exemptions 2013 2014 2013 2014 2013 2014 2013 2014 Total 74,835,150 79,164,285 45,784,981 53,271,337 9,802,097 9,740,678 55,587,078 63,012,015 Ratio of exemptions to revenue collection 61.18% 67.29% 13.09% 12.30% 74.27% 79.59% Total Exemptions for the year 2014 was sixty-three billion,
twelve million, fifteen thousand, eight hundred and four dollars ($63,012,015,804.00) representing 79.59% of revenue collected by the Customs and Trade Administration and the Value Added and Excise Taxes Operations which amounted
to seventy-nine billion, one hundred and sixty-four million, two hundred and eighty-five thousand dollars ($79,164,285,000.00). Conditional Exemptions
was fifty-three billion, two hundred and seventy-one million, three hundred
and thirty- seven thousand, one hundred and eighteen dollars ($53,271,337,118.00) or 67.29% of revenue collection while Unconditional Exemptions represented nine billion, seven
hundred and forty million, six hundred and seventy- eight thousand, six hundred and eighty-six dollars ($9,740,678,686.00) or 12.30% of revenue collection. Conditional exemptions exhibited an increase during the period under consideration while unconditional exemptions remained relatively stable. The increase in conditional exemptions resulted largely from the increase in exemptions received by Companies/Businesses and Ministries/Government Departments.
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