The State collected over two billion dollars during the recent Tax Amnesty.
The Amnesty ran from June 15th to September 30th, with penalties and interest charges waived in a bid to encourage persons and businesses to pay their outstanding taxes.
Speaking during the Budget Presentation, Finance Minister Colm Imbert says, Government collected much more than expected.
Mr Imbert believes this underscores the importance of proper tax collection, which he says will be the norm with the operationalization of the Revenue Authority in 2020.
He also outlined progress of the Gambling, Gaming and Betting Bill.
Government also intends to move ahead with the Property Tax.
Mr Imbert says despite recent legal challenges, progress is being made.
The Finance Minister says the collection of property tax for residential properties is essential for Local Government reform, as it will ensure a secure revenue stream for Municipal Corporations.