The Ministry of Customs and Revenue (MCR) has exceeded 80 per cent of its annual revenue target for the year, valued at ST$544 million. 

According to the latest report from the ministry, they are on track to reach a revised revenue target of ST$680 million by June of this year. 

This marks a significant achievement for the MCR, as the ministry has already collected ST$452 million in the last eight months, surpassing the same period’s revenue collection by ST$91 million compared to last year.

In a statement, the M.C.R. affirmed, "We are on target and working to surpass the revenue goal set by the Ministry of Finance." 

The ministry also urged local businesses to remain compliant with tax regulations and continue supporting the country by paying taxes on time.

This positive trend follows a strong performance by the MCR during the previous financial year. 

In July 2024, Deputy Prime Minister and Minister for Customs and Revenue, Tuala Iosefo Ponifasio, announced in Parliament that the ministry had exceeded its revenue collection goal for the 2023/2024 financial year. 

With a target of ST$663 million, the MCR collected ST$686.4 million by the end of May 2024. 

By June 27, 2024, the MCR had reached ST$730 million, surpassing its expectations for the financial period and anticipating further gains by June 30.

Tuala emphasised that the MCR is committed to achieving its revenue goals, noting that the new revenue target set for the 2024/2025 financial year is ST$720 million. 

The ministry’s efforts remain focused on ensuring timely and efficient revenue collection from business and government entities which are vital to meeting Samoa’s financial needs.

The continued success of the MCR highlights the vital role that compliance and cooperation from Samoa’s business community play in supporting the nation's economic growth. 

The Ministry of Customs and Revenue remains dedicated to meeting and exceeding revenue targets while contributing to the country’s fiscal health.