BVI News

Gov’t rakes in over $74M in revenues for early 2021

Premier Andrew Fahie. (GIS photo)

Premier Andrew Fahie has said that despite the prevailing COVID-19 challenges, the BVI has fared well financially when compared to most other countries in the region and around the world.

Giving a breakdown of the revenues earned by the government in recent months, Premier Fahie said the total audited amount generated between January 1 and April 21, 2021 — excluding those derived from the financial services industry — is $32,465,143.

He said Her Majesty’s Customs and the Inland Revenue Department is credited for raking in the bulk of that income; having together collected $19,249,705.

According to Fahie who is also the Minister of Finance, the remaining $13,215,438 came from various other agencies such as the Post Office, Department of Labour & Immigration, and Water & Sewerage Department.

Financial services

Unlike the pandemic-induced downturn experienced by the tourism sector, Premier Fahie said the financial services industry had not gone into rapid decline and remains of great value to the BVI.

Premier Fahie said the reported unaudited income for financial services during the first quarter of 2021 (January 1 to March 31) was $31,001,151. For the period covering January 1 to April 21, 2021, the actual unaudited earnings amount to $41,628,819.

According to the Premier, unaudited financial services revenue during the first quarter of last year was pegged at $31,144, 292. This shows a modest recorded difference of $143,141.

Just over $74M total

Overall, the total government revenue earned between January 1 and April 21 of this year is $74,093,962. Premier Fahie was not able to say whether this figure is in line with budgeted projections.

In the meantime, it was previously disclosed that the government has spent more than $300 million to keep the BVI safe from the COVID-19 pandemic.

Last November, the territory’s 2021 budget was announced at $402,132,046. This figure was some $12 million less than the 2020 budget, which was $414,008,611.

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22 Comments

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  1. Real Financials says:

    3,500 government workers use up $200 million in salaries each year. Unfunded pension obligation is $400 million in the BVI.

    Any money that is being made is already spent.

    Like 24
    Dislike 4
    • Hmmm says:

      $200 million in salaries definitely not true. Please stop spreading fake news. Which documents do you get your figures from?

      Like 1
      Dislike 1
  2. heckler says:

    Yo really don’t know when to believe this guy

    Like 25
    Dislike 23
  3. My take says:

    Hon Premier when you look at what major good your government has done through covid we say thank you.

    Like 6
    Dislike 26
  4. Reality says:

    This Government has taken office in one of the most difficult times in the history of the world but they have done an awesome job despite the challenges.

    Like 8
    Dislike 28
  5. NOT TO WORRY says:

    FINANCE WILL SHORTLY COME UNDER THE GOVERNOR

    Like 22
    Dislike 6
    • @NOT TO WORRY says:

      That is the plan of the Brit and thus the chief reason for the COI.

      We are not fools, we see and know of the greed, and the innate response of some when it comes to Black people having and controlling huge sums of money..

      It gives many of them all sorts of psychological, emotional physiological attacks.

      Like 2
      Dislike 4
      • @@Not to worry says:

        When large sums of money are present the *** steal it… You’re all crooks and thieves. Where’s the billions you’ve collected in financial sector fees over the past 30 years. The BVI should be like Monaco with the best standard of living and best healthcare in the world. Instead the BVI remains a turd world toilet bowl of criminals. I guess that’s why there is a COI in process. Where’s the money!!! Let’s check the offshore account of every politician. Where did the money come from to own multiple rental properties. There is not one wealthy Belonger that can show where their wealth originated from because if they did they would be placed in prison. I*****ment Club comes to mind.

        Like 4
        Dislike 2
      • @@Not to Worry says:

        If that was the plan we certainly helped execute it. We are our worse enemy. Time to clean up the place by putting honest people in charge of our affairs. Get on board or Move over please.

  6. Trouble says:

    I swear i tired of alu s**t. Lies more lies an more lies. Strewpesssssss. Sickening

    Like 16
    Dislike 2
  7. Stay Alert..... says:

    He is trying to change the narrative.#eyeswideopen

    Like 11
    Dislike 2
  8. Covid safety says:

    Please can we have a breakdown of how the $300 million was spent in keeping a population of about 30,000 people safe??

    Like 15
    Dislike 2
  9. Clown says:

    Fahie aka smoke and mirrors a clown #moff4premier

    Like 12
    Dislike 1
  10. Mr. Green says:

    School Time!!!!! Lets start with math. First 4 months you bring in $74,000,000.00. You anually have 3 of these periods, assumethe same amount of collections per period.$222,000,000.00
    Budget for the fiscal l year is $400,000,000.00 plus. AHO OOOO——doesn’t add up!!!

    You need a 19 month year!!

    Like 14
    Dislike 1
  11. Shrinking economy says:

    The Financial Sector and Tourism have both shrunk under the VIP. This is partly a result of COVID-19, but mainly a result of the VIP Govt driving non-belongers out of the territory. Hopefully the government will see the error of its ways and welcome outsiders who can benefit the territory and its economy. If they do not, we will soon have to get the begging bowl out.

    Like 9
    Dislike 2
  12. Me says:

    Did this money come from the i m f ?

  13. Stupidness eehhh says:

    All we want to know. When are you going pay BVI PORT AUTHORITY WORKERS their MONIES. STOP WITH THE BULLS**TING. Them people deserve their monies. Robbing them people of honest working. 3.2 million that could of pay all government workers their incement an backpay. Evil doers God is not sleeping. Airport staff need their monies too. The problem is not really minister Andrew fahie. Is the wicked people them he put to run s**t for him. Hold on man. GOD is who exposing them and their evil deeds. Wait. Hon fahie get rid of them people u choose to put as board members u need to take a look at their intention an the people who u put to deal with port monies u need to change them around. Once downfall start it will fall on u. The port staff needs their monies back. Dont sit an watch u down fall. Where their life theirs hope. Start making a change. Man. U a big man. We believe in u thats y we voted for you. The first thing they did is cut salaries rich business people cut poor people salaries. Not nice. Some of theses people still playing catch up on their bills while theses rich a** collection monies from Government for been on boards an building renting to goverment. Its hot breaking and dishonesty to the max. Look out for u people u said u went in to help dd people y kill them. Remember Bvi port staff can vote. Remember that.

    Like 3
    Dislike 1
  14. Greedy Eyes says:

    The more you see is the more you take, the more you give away..

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