K1.3 billion spent on infrastructure via tax credit scheme: Maru

By MARK HAIHUIE
ABOUT K1.3 billion has been spent on infrastructure through tax credit schemes for both approved and already completed projects since 1992, according to National Panning and Monitoring Minister Richard Maru.
He said this included infrastructure tax credit schemes and national infrastructure
Maru said there was still a lot more room for improvements to improve the programme to maximise benefits.
This was the basis for the Government putting halt to tax credit schemes until certain requirements were met, he said.
“Times have changed and given that Government revenues have been fast declining in recent times, we have to review and ascertain the usefulness of the programme going forward,” Maru said.
“(This is) in terms of its real value and whether it is still needed, or should the programme should be phased out completely.
“Or should we look at a completely different delivery model altogether?”
Maru said several issues had affected optimum use of the tax credit scheme, which the Government was committed to correcting.
“There are serious inconsistencies in the figures reported, which indicates that there are loopholes somewhere that need to be addressed and fixed,” he said.
“Either Government agencies are not communicating or collaborating, or the reports disseminated by the developers are somewhat flawed.
“The other equally-important aspect is to make sure the programme is delivered in a most cost-efficient and effective manner so there is sustained outcome.”