Customs targets K600mil

By DALE LUMA
PNG Customs plans to collect K600 million in revenue for 2020 as part of a revenue recovery exercise to start after a 10-day amnesty period.
Chief Commissioner David Towe told The National yesterday that they had issued amnesty notices to importers, exporters, manufacturers, customs agents and brokers.
“We have ramped up compliance activities through this revenue recovery operation and issued the amnesty notice to encourage voluntary compliance,” Towe said.
“Our target is K600 million by the end of the year – K450 million per projection and K150 million in excess of projection.”
Customs, in a newspaper advertisement on Monday, said the operation was to collect all unpaid and outstanding customs duties, goods and services tax and excise tax.
Under normal operations, Customs imposes a penalty of 200 per cent on outstanding taxes in accordance with the Customs Act 1957.
To encourage voluntary compliance, the 10-day amnesty period will allow taxpayers to settle outstanding taxes without a penalty.
The penalty waiver under the amnesty period started on Monday.
Meanwhile, Treasurer Ian Ling-Stuckey tabled in Parliament on Tuesday the Customs (2021 Budget) (Amendment) Bill 2020 to increase penalty fees and imprisonment terms for importers, exporters, brokers and travelling passengers who breach PNG Customs laws.