FINANCIAL SERVICES INDUSTRY CONTINUES TO BE MAJOR CONTRIBUTOR TO BVI ECONOMY

As of June 30th this year, financial services activities had contributed 
sixty million, sixty-three thousand, two hundred and eight dollars 
($60,063,208) to direct Government revenue.

This figure is some 13.61% or seven million, one hundred and ninety-six 
thousand, two hundred and eight dollars ($7,196,208) over the pro-rated 
amount of fifty-two million, eight hundred and sixty-seven thousand dollars 
($52,867,000) for the same period.

For the month of July, 2002, the Financial Services Commission has 
collected some six million, five hundred and fifty-five thousand, five 
hundred and forty-two dollars ($6,555,542) which it has deposited to the 
Government's Trust Account.

The Financial Services Commission Act 2001 established the sharing 
parameters between the interested parties, that is, the Commission and the 
General Revenues.

The other major revenue collectors, Customs and Inland Revenue, together 
collected thirty-four million, seven hundred and ninety-eight thousand, 
three hundred and ninety-two dollars ($34,798,392) for the period 1st 
January through 16th August 2002.

The pro-rated revenue estimate for the same period is forty-six million, 
nine hundred and forty-seven thousand, three hundred and thirty-two dollars 
($46,947,332), which is some twelve million, one hundred and forty-eight 
thousand, nine hundred and forty dollars ($12,148,940) below that which has been projected.