Australia partners with IMF in implementing revenue strategy

THE Australian government is partnering with International Monetary Fund (IMF) to implement Papua New Guinea’s medium term revenue strategy, High Commissioner to PNG Bruce Davis says.
Davis said this was in line with how the Government was effectively collecting its share of revenue.
“We are also partnering with the IMF to help implement the Government’s medium term revenue strategy which is all about improving the efficiency and effectiveness of how PNG collects a fair share of money from businesses and citizens,” he told a public forum in Port Moresby.
Davis noted that the Government had expressed a vision for PNG which encompassed economic growth, improved financial management, greater decentralisation and stronger accountability.
“Taxation is an important enabler of this vision,” he said.
“Tax is a vital source of income to any nation, including PNG, where it represents three quarters of government revenue.
“An effective taxation system underpins the government’s ability to deliver services and achieve growth.
“Citizens of any nation should expect their government to raise revenue yearly and transparently and to expand revenue efficiently and effectively on service delivery and capital projects.”
Davis further noted that citizens had the right to hold their government to account.
“Taxation is an important component of the social contract between citizens and their government, not just at the national level but at the sub national level as well,” he said.
“If citizens have access to good government services, they are more trustful and more willing to pay their fair share of tax.
“As a strategic and regional partner, Australia is committed to support the PNG Government to build a better future for all its citizens by institutional support.”