The Internal Revenue Commission (IRC) is on track to reach its revenue target of K8.1 billion.
IRC Commissioner General Sam Koim said, “We (IRC) are on target. There are only two times where IRC hit the K8 billion mark. One was in 2014, another one was in 2018. And those were the good times, but this is the most difficult time that we are hitting K8.1 billion and it would be probably more than that by the end of the week.”
Mr Koim said IRC meeting the 2021 target is due to effective collection strategies adopted by the Commission.
Koim thanked employees of the Commission saying, “I would also like to acknowledge and thank the two commissioners as well as the assistant commissioners, all the staff who have been under pressure working really really hard to bring in that money as well. So thank you very much.”
The Commissioner General also highlighted IRC’s revenue target for 2022.
“Our revenue target for next year (2022) has been increased to K9.3 billion.”
Koim said K120 million was allocated to IRC for the first time by the Marape-led government.
The IRC Commissioner General addressed Prime Minister Marape saying, “Prime Minster, if we can get all these support that we need and if we materialize some of the work that we are doing, I believe that we can bring in that money. There is space to collect. With those strategies that we are adopting, I believe that we can.”
In commending IRC, Prime Minister Marape said, “Speaking on success, there can be no greater amplifier than the success of IRC delivering on one hundred percent on revenue target as forecasted when the Treasurer handed down 2020 budget. The Treasurer forecasted that we would collect K8.1 billion when he handed down the 2021 money plan in November or December of 2020.
“Under hard times, IRC and Customs have been doing a good job.”
The Prime Minister also thanked the country’s taxpayers.
“I just want to also thank, those who are part of the economy – the business houses, our citizens, our individuals who have been respecting our laws and respecting our regulations in as far as revenue is concerned and who’ve been paying their due,” he said.