Government of Aruba sees its income fall by 36% in August.

According to the Central Bank of Aruba, the Government of Aruba’s total income fell by 34.4 million florins in August of 2020, a decline of 35.8% compared with August 2019. This was primarily due to a 39% drop in income tax and profits, a decline of 12.3 million florins compared with August 2019. There was also a 32.8% drop in the tax on commodities, mostly import duties, (down by 33% or 5 million florins) and a 37.2% drop in turnover tax (BBO/BAZV) (down by 7 million florins).
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Total Income: August 2020.

In AFL millions	2020	2019	Absolute	% change
Tax on Income and Profits	18.9	31.2	12.30	-39.4%
Tax on Commodities	18.4	27.4	9.00	-32.8%
Tax on Property	5.6	4.1	1.50	36.6%
Tax on Services	(0.1)	3.9	4.00	-102.6%
Turnover Tax (BBO/BAZV)	11.8	18.8	7.00	-37.2%
Foreign Exchange Tax	3.4	4.6	1.20	-26.1%
Non-Tax Revenue	3.6	6.0	2.40	-40.0%
Other Revenue	0.1	0.1	0.00	0.0%
Total Revenue	61.7	96.1	34.40	-35.8%

​Total Income January - August 2020

In AFL millions	2020	2019	Absolute	% change
Tax on Income and Profits	229.9	309.2	79.30	-25.6%
Tax on Commodities	158.8	220.5	61.70	-28.0%
Tax on Property	71.1	70.4	0.70	1.0%
Tax on Services	17.6	36.8	19.20	-52.2%
Turnover Tax (BBO/BAZV)	104.0	145.4	41.40	-28.5%
Foreign Exchange Tax	29.4	36.4	7.00	-19.2%
Non-Tax Revenue	34.5	109.3	74.80	-68.4%
Other Revenue	5.9	12.3	6.40	-52.0%
Total Revenue	651.2	940.3	289.10	-30.7%

Through the first eight months of 2020 the Government’s total income has fallen by 30.7%, that is by 289 million florins, from 940.3 million florins in 2019 to 651.2 million florins in the same eight months of this year.
Please note these numbers are preliminary and subject to change.

Total Income by Month 2020

	2020	2019	% change	Absolute
Jan	122.8	124.6	-1.4%	1.80
Feb	104.0	93.5	11.2%	10.50
Mar	82.1	84.7	-3.1%	2.60
Apr	55.0	95.9	-42.6%	40.90
May	68.4	198.4	-65.5%	130.00
Jun	72.6	115.7	-37.3%	43.10
Jul	84.6	131.4	-35.6%	46.80
Aug	61.7	96.1	-35.8%	34.40
YTD	651.2	940.3	-30.7%	289.10

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 300 – 400 million florins in total income compared with 2019.
As reported by the Central Bank of Aruba in its August 2020 Monthly Tables report
https://www.cbaruba.org/cba/readBlob.do?id=6976
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