VI Update

USVI Public Records

A VI Update Project · Brian LoudenThe territory’s public record — kept public.

REVENUE ESTIMATION SNAPSHOT

Collection
Government Financials
Sub-shelf
DOF Budgets & Financial Statements
Kind
Financial Report
Date
2023-03-19
Topics
Disaster Recovery, Public Finance
Pages
1
Text
Native Text

## Slide 1 REVENUE ESTIMATION SNAPSHOT Virgin Islands Bureau of Internal Revenue REVENUE BREAKDOWN Revenue Category Project Count (If Applicable) Est. Revenue Fiscal Year Individual Income $535,643,953.00 FY 2024 Individual Income $589,208,348.00 FY 2025 Corporate Income $613,241,702.00 FY 2024 Corporate Income $674,565,873.00 FY 2025 Excise $258,408,360.00 FY 2024 Excise $284,249,196.00 FY 2025 Gross Receipts Tax $ 43,541,200.00 FY 2024 Gross Receipts Tax $ 47,895,320.00 FY 2025 Miscellaneous $ 4,764,349.00 FY 2024 Miscellaneous $ 5,240,784.00 FY 2025 FY24 and FY25 Total Estimated Revenue Revenue Summary FY24: $ 919,955,613.00 Highlight 1:Full resumption of work force after pandemic resulting in increased individual taxes Highlight 2:Increase in tourism FY25: $1,011,951,174.00 Highlight 3: Increase of FEMA/HUD projects Highlight 4: Increased collection efforts

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## Slide 1 REVENUE ESTIMATION SNAPSHOT Virgin Islands Bureau of Internal Revenue REVENUE BREAKDOWN Revenue Category Project Count (If Applicable) Est. Revenue Fiscal Year Individual Income $535,643,953.00 FY 2024 Individual Income $589,208,348.00 FY 2025 Corporate Income $613,241,702.00 FY 2024 Corporate Income $674,565,873.00 FY 2025 Excise $258,408,360.00 FY 2024 Excise $284,249,196.00 FY 2025 Gross Receipts Tax $ 43,541,200.00 FY 2024 Gross Receipts Tax $ 47,895,320.00 FY 2025 Miscellaneous $ 4,764,349.00 FY 2024 Miscellaneous $ 5,240,784.00 FY 2025 FY24 and FY25 Total Estimated Revenue Revenue Summary FY24: $ 919,955,613.00 Highlight 1:Full resumption of work force after pandemic resulting in increased individual taxes Highlight 2:Increase in tourism FY25: $1,011,951,174.00 Highlight 3: Increase of FEMA/HUD projects Highlight 4: Increased collection efforts