Customs raised K3bil in taxes: Towe

PNG Customs generated more than K3.17 billion in tax for the government in 2021, says Customs chief commissioner David Towe.
He attributed the favourable result to increased penalties imposed for non-compliance under the recent reforms initiated by the agency.
PNG Customs recorded a 12.4 per cent increase in revenue, recording a K350 million growth from 2020.
According to Towe, the amount exceeded the revenue projections of the government by close to K54 million.
They had projected revenue last year to be K3.14 billion but they collected K3.17 billion.
More than K80 million was money recovered from audits, fines and penalties alone.
“In the past, non-compliant companies were able to pay their way out with a slap on the wrist, but with reforms and increased penalties enforced, we’ve improved on our controls to ensure people pay the correct taxes,” he said.
Tougher penalties were also imposed on the illegal sale of high-value products such as cigarettes and alcohol.
“Note that all those cheap products are no longer present in the market because we were able to close all the loopholes in the market,” he said.
“When you put in the right systems and procedures, people who compete unfairly will lay low or stop.”