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November 19, 2008

Ship registration increases government revenue

Silafaga Lalua

2.2 million dollars have been received by the government of Tuvalu through revenue from the Tuvalu ship registry in Singapore.

Minister of Communication, Transport and Tourism Hon Taukelina Finekaso revealed this during his input to the debate on the Appropriation Bill and the Development Fund Estimates Motion this second day of the budget session of the Parliament 2008.

He stated that since 2004 when the registry first operated, the revenue collected each year always exceeded the previous year’s takings except that of 2007 when it decreased.

As of September this year, the registry had collected AUD$688, 000.

The 2009 Appropriation Bill 2008 being debated on, asks for more than AUD$32 million to meet the expenditure by the government in the financial year 2009 as detailed in the National Budget for 2009.