Following the three-day Revenue and Tax summit, the Autonomous Bougainville Government has now developed tangible options to improve its economic position towards the goal of fiscal self-reliance.
Speaking at the recent summit closing, Chief Secretary Joseph Nobetau acknowledged the creative and innovative presentations and contributions made and proposed the next steps that the ABG will focus on.
The Chief Secretary then presented a range of initiatives based on Summit presentations and discussions. These include:
- Implementing new revenue initiatives
- Increase compliance with the current tax laws
- Assessing feasibility of drawing down national powers and functions, such as collecting and retaining personal income tax in Bougainville
- Attaining for full revenue entitlements under the Bougainville Peace Agreement
The Chief Secretary said the cost-benefit of these initiatives would now be looked at in detail, including discussions with the business community and close engagement with the Government of PNG.
ABG Vice President Raymond Masono, in his closing remarks, shared Chief Secretary’s sentiments.
He described the summit as a process of dialogue where the government has begun to lay the foundations to build a strong and sustainable economy base.
“As vice president, I am responsible for whole-of-government implementation and reform. This includes examining ways that the government can more efficiently utilise revenue to deliver effective services,” said Masono.
“I am focused on whole-of-government economic reform, where we can transform our economy and economic base to develop key industries and sectors.
“This summit has been an important part of that process and through the lessons we have learnt, I am confident that Bougainville is now in a much better position to deliver on the promises of the future.”
Vice President Masono challenged the ABG and its administration to put in place the necessary measures and activities to implement the proposed initiatives. This is to ensure that Bougainville builds a strong and sustainable economy for the future.
(ABG Chief Secretary Joseph Nobetau)