Government of Aruba sees its income fall by 45% in September

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According to the Central Bank of Aruba, the Government of Aruba’s total income fell by 48.2 million florins in September of 2020, a decline of 45.0% compared with September 2019.

This was primarily due to an 82.5% drop in Non-Tax revenue, a decline of 13.7 million florins compared with September 2019. There was also a 41.4% drop in the tax on income and profits, (down by 12.1 million florins) and a 41.0% drop in turnover tax (BBO/BAZV) (down by 7.3 million florins). Through the first nine months of 2020 the Government’s total income has fallen by 32.2% that is by 337.1 million florins from 1,047.3 million florins in 2019 to 710.2 million florins in the same nine months of this year. Please note these numbers are preliminary and subject to change. The Government’s total annual income in 2019 was 1,402,400,000 florins. If the trend continues through the balance of 2020 the Government could see a decline of between 400 – 500 million florins in total income compared with 2019. As reported by the Central Bank of Aruba in its September 2020 Monthly Tables report.  For more information: cbaruba.org. Source: tourismanalatycs.com.