Annual report & statement of accounts

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Annual-Report-2014

ANNUAL REPORT STATEMENT OF ACCOUNTS 16 ________________________________ REVENUE COLLECTION TABLE II
Variance 2013 2014 2014 Over 2013 Over Budget INCOME TAX SELF EMPLOYED

M
ODERNISATION OF
ICT

I
NFRASTRUCTURE
–

TRIPS

2.0
With the aim of providing more efficient and effective service to customers and to meet the challenges of changing technology, the Guyana Revenue Authority commenced the process of upgrading and modernising its Information Communication Technology infrastructure from TRIPS to TRIPS 2.0. This upgrade is expected to result in improved business processes and enhanced trade facilitation with the implementation of several electronic services. The Information Technology Division provided the necessary support to the Consultants, Crown Agent, and considerable progress has been made in the development of the upgraded software. All necessary infrastructures were configured to support the testing of the software. Further, to facilitate a seamless transition to TRIPS 2.0, a Change Management Committee has been established and staff were engaged in a series of sensitisation workshops to keep them abreast of the impending changes.

ANNUAL REPORT & STATEMENT OF ACCOUNTS
16
________________________________
REVENUE COLLECTION

TABLE II

INTERNAL REVENUE COLLECTION FOR THE YEAR 2014 ($ 000)

DESCRIPTION
ACTUAL
BUDGETED
ACTUAL
Variance
2013
2014
2014
Over 2013
Over
Budget
INCOME TAX SELF EMPLOYED
3,307,352 4,047,328 3,489,503 182,151
(557,825)
INCOME TAX OTHERS
15,199,071 16,020,000 17,982,630 2,783,559 1,962,630
CORPORATION TAX
22,689,259 24,733,721 25,443,150 2,753,891 709,429
- Private Sector
21,736,237 23,769,047 24,533,658 2,797,421 764,611
- Public Sector
953,022 964,674 909,492
(43,530)
(55,182)

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