Government revenue for the 1st Quarter of FY 2023 shows 23% collected. The quarterly report provided to Olbiil Era Kelulau reports actual collections against projected revenue.
Taxes collected was 25% of projected tax revenue, with fuel excise, wage and salary, alcohol & tobacco, and general import exceeding the 25% mark. PPEF was the least at only 7% of the expected 1st quarter collection.
Business licenses and permit fees reached 57% of the projected income. Foreign labor permit fees collected in the 1st quarter reached 28%. Ship Registry reached 100% collection, an amount of $110,807. According to the report, it was not expected to bring any revenue in FY 2023.
Other fees and charges added to FY 2023 1st quarter collections include Digital Residency and Court Fines, which exceeded the expected collections by 100%.
Despite these, collections overall were at 22% of the projected income for the 1st quarter.