K3.6mil in outstanding tax collected

A recent visit to Kokopo by International Revenue Commission (IRC) officers proved successful with the collection of K3.6 million in outstanding taxes.
Payment arrangements were entered into for another K11.3 million, IRC commissioner-general Betty Palaso says.
Palaso said reports received showed that taxpayers co-operated with the IRC officers and that the officers also informed taxpayers about the consequences of failing to lodge tax returns and paying taxes on time.
She said the Kokopo visit was part of IRC’s routine compliance and taxpayer educational awareness and enforcement activities to carry out such investigations.
“If you carry on a business or trade, you must declare your monthly and annual income correctly and pay your taxes on time to avoid being
penalised.
Basic book-keeping of your sales and expenses is vital to ensuring that you justify the correct tax that is imposed on you.”
Palaso said earlier this year, a similar trip was made to Lae where K6.9 million was collected and payment arrangements entered into for K28.2 million.
Palaso further urged taxpayers to take note of recent advertisements in the media regarding how to pay taxes online.
She encouraged taxpayers to pay taxes and follow through, indicating their tax type and taxpayer identity number (TIN) to ensure tax accounts were correctly credited with the tax payments and penalties were not automatically imposed.
“Come forward and tidy up your affairs now.
“If you don’t voluntarily come forward and get your tax affairs in order and we find you, the financial and legal consequences will be much tougher on you.”