Govt aims to improve tax revenue

Business

DEPUTY Prime Minister and Treasurer Charles Abel says the 2018 budget marks the beginning of a plan to address a falling review trend, and the 2019 revenue strategy will ride on the back of the progress made in 2018.
Abel told Parliament the medium-term revenue strategy was focused on improving tax revenues and tax administration, “and harmonising and simplifying tax legislation and tax policies”.
“In terms of tax administration reforms, significant progress was made in establishing large taxpayers office revising tax collecting agencies, business processes and strengthening the compliance audit capacity division.
“While at advanced stages, these reforms will commence yielding results in 2019.
“The set of reforms for 2019 includes improvement and/or establishment of regional and provincial tax centres across the country to decentralise tax administrations services.”
He said they were aimed at improving the efficiency and effectiveness of tax administration.
“Under policy reforms, a number of policies such as the SME tax regime and changes to exercise and export duties on alcohol, tobacco, gaming and raw products (fish and sawn logs) have been introduced in 2018, and further refinement will be required in 2019 to achieve the programmed outcomes.”

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