The Recurrent Expenditure for the Anguilla budget 2012 has been estimated at 181.51 million dollars. The Recurrent Revenue for the same fiscal is expected to be 187.65 million dollars. The Capital Budget for 2012 fiscal has been estimated at EC$28.21 million.
The 2012 Anguilla budget address also states that the recurrent balance for the 2011 fiscal will be a surplus amounting to 21.51 million East Caribbean dollars.
The capital expenses have been projected at 10.81 million dollars. The 2011 budget is also supposed to see a surplus of almost 10.70 million dollars.
Anguilla Budget 2012 Economic and Developmental Steps:
The 2012 Anguilla budget will focus primarily on taxation the Interim Stabilisation Levy is expected to be imposed in this fiscal.
Several fresh measures, like the Education Levy and Withholding Tax, will be implemented for increasing the revenues in 2012.
The current Communication Levy of 7 percent will be further increased by 3% in the upcoming fiscal.
Drivers licenses will be costlier in 2012.
From 2012 onwards the GoA will be responsible for the Banking License Fees instead of the Financial Services Commission.
The Caribbean country will be inducted into the Multi-Country Programme of the United Nations Children s Fund or UNICEF from January next year.
The Continuing Education Scheme of the Department of Social Development will benefit 6 students in the upcoming fiscal.
Anguilla Budget 2012 Grants:
The European Development Fund will provide the Anguilla government grants amounting to 12.24 million dollars.
It will also receive substantial financial aid from the private sector enterprises.
The UK government will give 5.9 million dollars to Anguilla.
It will also receive CRRIF funds up to 5 million dollars. Besides, its reserves are presently worth 5 million dollars.
Anguilla Budget 2012 Taxes :
Training/Education Levy this duty is exercised on employers who hire professionals on work permit. The rate is 3 percent presently. The Executive Council is presently considering a change in its name as the earnings from this source are supposed to be transferred to a consolidated fund.
The Executive Council has also asked the Tax Reform Working Group to work on procedures to properly implement the Goods/Services Value Added Taxes. The task has to be completed by 31st December 2014.
The Executive Council has also agreed to postpone the implementation of the Car Rental Levy and Restaurant Meals Levy.
The Inland Revenue Department will make several structural alterations to the present tax regime in the upcoming fiscal. Its basic aim will be to make the national tax regime a better one. It is assumed that the department will see its importance to grow rapidly in the coming years.
Anguilla Budget 2012 Administrative Expenses and Steps:
The government has allotted 7.01 million East Caribbean dollars for public administration.
A Performance Management System will be implemented at the start of 2012 by the Department of Public Administration.
The government will also initiate parole hearings from 2012 onwards.