WILLEMSTAD - The operational section of the national budget will provisionally close with a favorable balance of 63.5 million guilders, while according to the forecast the surplus would amount to 36 million. In particular, more in taxes was collected.
This is evident from the Financial Management Reporting (FMR) up to and including May. The realization of the tax revenues up to and including the reporting period amounts to 648.6 million (the forecast was 617.8 million). The difference for the time being amounts to 30.8 million more in taxes.
More wage tax was received in the first five months of the year: 195.7 million (compared to the 184.6 million previously anticipated). But the biggest boost was made by the tax authorities with the collection of profit tax: 94.7 million compared to the expected 79.6 million.
The sales tax also brought the government more: 189.4 million up to and including May, instead of the 183.1 million that was expected. And for example, the transfer tax amounted to 9.2 million (compared to 5.5 million according to the forecast).
There were also some setbacks, such as property tax (OZB), which raised 15.6 million in the first five months, while 16.4 million was expected. At the same time, income tax is still behind schedule with 3.9 million (5.5 million). But all in all, tax revenues were nearly 31 million higher than expected.
The operational section according to the adjusted second forecast closes on an annual basis - over the full twelve months - at a deficit of 38.5 million. The adjustments compared to the originally approved budget include the first supplementary budget 2019 as offered to the Council of Ministers, the Advisory Council (RvA) and the Financial Supervision Board (Cft).
"This revised second forecast will be adjusted in the next reporting period in accordance with what was agreed in the growth agreement," according to the explanation in the FMR.
Moreover, there are obligations that have yet to materialize in expenses; amounting to 133.7 million at the end of the reporting period. According to the Ministry of Finance, account should be taken of the fact that in certain cases - in particular for grants and transfers - all the full annual amount may be regarded as a financial obligation in the system.
In addition to taxes, there are also other benefits. The realization of this income up to and including the month of May amounts to 45.7 million (the prognosis was 49.5 million higher). The difference is currently 3.8 million negative. For example, less license fee was received from the Central Bank CBCS; 19.6 million instead of 21.6 million.