Government’s investment in IRC reaping rewards: PM

GOVERNMENT’S investment in reinvigorating the Internal Revenue Commission (IRC) is paying off, with a record K8.1 billion in revenue collected this year, says Prime Minister James Marape.
Marape made the statement during the start of the IRC online tax payment system – the MyIRC Online Service platform – on Monday.
“This year is only the third time Government revenue collection has hit the K8 billion mark in the past decade,” he said.
He said the first was in 2014 during the first year of the PNG LNG production, and the second in 2018 – comparatively good economic years for PNG.
He praised the drive by the IRC and Customs to meet their target in a Covid-19-impacted economy.
He also praised the emphasis the Government was placing on investing resources and funding support to tax collectors which led to the high revenue yield.
“The Government has indicated further support to IRC by investing in the integrated tax management system through a K35 million funding in the 2022 budget, and another K11 million for goods and service tax administration.
He welcomed the move by the IRC and Customs into e-service which is what he wants Government services to take.