K20bil needed yearly: PM


THE country needs K20 billion a year to operate on a sustainable level and attain positive growth, according to Prime Minister James Marape.
Marape yesterday launched the Internal Revenue Commission 2020 work plan. He is confident that the amount can be generated if the country collects its fair share of taxes.
“I believe there is space to raise that K20 billion every year for our economy,” he said.
“If our economy today is K80 billion, and if we can work diligently to collect not extra tax but what is due to us according to our laws, we will do well.
“That’s why in the new project discussions with major companies, I am putting my foot down and saying we are not giving any more concessions to multinationals.
“I am asking them to give us our due and we will give them contract agreements. This is the type of discussion we are having in the industry.”
He told IRC officers that they had more power than those in other public service institutions.
“And you can use that power to start engaging,” he said.