The South Sudan Revenue Authority is likely to surpass the projected revenue collection of $1.45 billion for the fiscal year by half a billion US dollars, according to the the Commissioner General, Africano Mande.
According to African Mande, the Ministry of Finance and Planning had expected Revenue Authority to contribute 1.45 billion US dollars.
Mande did not reveal how much the revenue Authority has collected since the annual fiscal budget was passed in August this year.
He said the institution can generate 1. 65 billion US dollars and by the look of things, the collection is likely to reach close to two billion US dollars.
“In this particular financial year 2023-2024, we have been given a target, and the target if I am not mistaken we are expected to contribute in this financial year 2023-2024 is $1.45 billion.
“We are talking about the budget not the resource envelops and now our revenue modalities is saying, we can actually collect 1,65 billion based on market behavior.
But he says this will depend on the dynamics and behavior of the market.
“And when we look at the collection for the last three or four months of the financial year, its already showing that we are likely to collect up to $1.90 billion beyond what have been projected.”
The Commissioner-General said the revenue generated through tax collections, duties and other sources will be remitted to the Ministry of Finance.
He said the revenue generating institution remits between SSP21- 23 billion the Ministry of Finance and Planning through the Bank of South Sudan.