Customs & Excise Department Experiences Over 200 Million Dollar Decrease In Revenue Due To Global Supply Chain Crisis
Basseterre, St. Kitts, January 21, 2022 (SKNIS): Assistant Comptroller at St. Kitts and Nevis Customs and Excise Department, Deslie Greenaway, highlighted the negative fallout that the COVID-19 pandemic continues to have on the local economy.
During his appearance on the local radio and television show ‘Working for You’, Mr. Greenaway said, “In 2018, we had imports valued over 877 million dollars and compared to 2021, we have seen that drop of over 200 million dollars with valued imports up to 647 million dollars.”
“In speaking to a representative in the supermarkets, we learnt that the freight pre-covid on a 20-foot container was between 4000 and 6000 EC dollars and the 40-foot container to be shipped the value was between 8000 and 10000 EC dollars,” Assistant Comptroller Greenaway said.
“During the pandemic, we have seen the freight increase now where a 20-foot container was 8000 and 10000 EC dollars and a 40-foot container would cost between 12000 and 15000 EC dollars and of course, that cost would be passed on to the consumer,” he said.
The Assistant Comptroller also said, “I have experienced it where I went to the supermarket pre the COVID-19 virus and I would see cauliflower would cost seven dollars and during the pandemic, the price increased to 13 dollars.”
The revenue generated from tax collecting on imported goods according to Mr. Greenaway would be used for helping the Government to fund several areas including infrastructure, healthcare, education, and capital projects.
With less revenue being collected from taxes, this could affect Government’s funding in critical areas.