K9bn tax target


INTERNAL Revenue Commission and Customs have been tasked to collect K9 billion of the K11 billion expected in internal revenue next year, Chief Secretary Isaac Lupari says.
After addressing IRC staff at the Taurama Aquatic Centre in Port Moresby yesterday, Lupari said the onus was on IRC and Customs to raise the amount.
“That’s the internal revenue that we’re looking at,” Lupari told The National.
Lupari said he had told the IRC staff to work together so that “every toea is collected”.
Internal revenue collection was estimated at K12.1 billion this year but was reduced to K11.7 billion in the supplementary budget.
“I think that they’ve got a big task but I’m quite confident that, with the added support Government is giving, they have increased funding to complete recruitment so that staff is on strength,” Lupari said.
“We will also bring in specialists to deal with tax audits and tax compliance.
“With the added support the Government is giving, I’m sure that they’ll be up to the task to make sure that every toea of that K9 billion is collected.”
K7 billion is expected from IRC and K2 billion from Customs.
Lupari said there were no major new tax revenue measures apart from increased log export taxes.
“Treasurer (Patrick Pruaitch) and his people are looking at that (log export taxes) closely to ensure that tax does not impact on the industry in a negative way,” he said.
“All in all, the Government is following the same tax regime as there is no point in increasing taxes when we are going through financial difficulties.”

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