IRC collected K5 billion as revenue: Koim

By SHIRLEY MAULUDU
THE Internal Revenue Commission (IRC) has already collected about K5 billion as revenue for the country this year, commissioner general Sam Koim says.
Koim said this was about 70 per cent of the expected revenue for this year.
“Our revenue target is K8.1 billion,” Koim told a media briefing in Port Moresby on Friday.
“Covid-19 (Coronavirus) is a medical challenge we are facing but it is also having an impact on the economy.
“What we would urge is at the moment we are not doing that bad but we are tracking okay. We are optimistic to meet out revenue target at the end of the year.
“Our revenue target is K8.1billion.
“But so far as of last week, we have achieved 70 per cent of that target already and we are on course to achieve that target. We are very optimistic to do that.”
However, Koim cautioned about additional potential restrictions on the economy and the effects.
“But that cannot happen if we have restrictions in business activities,” he said.
“So while the pandemic is threatening lives and all of that, we are also conscious that that decision must be balanced or otherwise we will be sacrificing the economy on the altar of Covid.
“That is the kind of concern and also message that we would like to offer. A measured, balanced action is needed to protect the economy as well as protect individual lives from Covid-19 as well.”