IRC addresses concerns over boom in businesses

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The Internal Revenue Commission (IRC) is doing its best to capture all business operators under its tax net so they can pay some form of tax, according to commissioner-general Betty Palaso.
She was responding to Madang MP Bryan Kramer, pictured, who raised concern about mushrooming foreign-owned businesses which he said seemed to be thriving in most areas of the country.
Speaking during the final day of induction at parliament last Friday, Kramer pointed out that many PNG-owned businesses struggled despite many years of operation, unlike newly established foreign-owned businesses.
He stressed that these foreign-owned businesses operated mainly with cash and asked if the businesses were paying taxes or their activities monitored.
Palaso concurred with Kramer’s concern that businesses were popping up everywhere in the country.
She said the Internal Revenue Commission required help from political leaders in respective electorates to report businesses that were non-tax compliant.
“Businesses popping up everywhere is a concern and we do our best to try to look at other ways to capture those operating tuckerboxes,” Palaso said.
“As members (MPs), if you know of anyone who is not tax compliant, let us know so we can get them to register.
“Penalties, we can also take them to court.
“If they try to leave the country they can be stopped at the airport and we make sure they fix their liabilities first before they are allowed to leave.
“So, there are ways we can deal with them under the income tax act.”