The Tax Review Committee (TRC) will be presenting its final copy of the ‘Tax Review Report’ to the Minister for Treasury Patrick Pruaitch tomorrow (Monday).
The committee chaired by former Internal Revenue boss, Sir Nagora Bogan, has taken more than two years to complete their task.
The TRC formally started work on 1 September 2013 from a National Executive Council decision because the country’s tax system has not been revised for 40 years.
With the 2016 National Budget to be tabled in Parliament on November 3, the final copy will help NEC to make adjustments to the nation’s tax system.
The committee submitted an interim report to the Government earlier this year.
This interim report provided an update of the review, outlined possible broad directions for reform and identified any early wins that the Government may wish to consider as an initial step towards tax reform stated information on the TRC webpage.
“The main final report, which will set forth a possible substantive tax reform package going forward, will be provided to the Government by mid-2015.