Govt gets tax report

 By GYNNIE KERO and ERIC BALARIA

TREASURER Patrick Pruaitch says the tax review report will be undertaken by the Government to address tax issues in the country.

The final tax review report was presented to the Government yesterday by the Tax Review Committee with 91 recommendations.

Recommendations include a change in policy framework to move away from the extractive industry, changes to the fiscal policy, tax policy and trade and investment policy.

Pruaitch said although the review had taken some time to complete, the Government was keen on adapting it where appropriate.

He said the Government was looking forward to work on the recommendations set by the committee. 

“As a Government, we are looking forward to working with the sets of recommendation that you have put through,” Pruaitch told the committee. 

“We decided two years ago to come up with a tax review and I think it is moving in the right direction. 

“As our economy grows and is becoming complex, tax issues are also becoming complex for us to manage.

“The Government will use this as a basis of moving forward in terms of addressing our taxations. 

“It is important that we treat this as a tool for the Government in managing not only our tax issue but the economy in general. 

“I am looking forward to implementing some of the recommendations.

“We’ve already incorporated some of your work in the 2016 budget and we are hoping that as we progress, we will be able to look at your recommendations and adapt where appropriate.”