The Internal Revenue Commission (IRC) projects to collect K9 billion in 2021.
IRC Commissioner General, Sam Koim, says in the current environment they will be able to meet or surpass that target.
“The budget for this year the projections is about K8.1 billion for this year, that’s the money we will be transferring to the WPA. But our collections should be around K9 billion because we also collect GST and transfer 60% back to the Provinces and then GST Refunds.
“If everything works well, we are very optimistic that we will meet the target or even exceed it. That depends on COVID-19 and other unforeseen circumstances,” said Koim.
Last year the IRC collected a total revenue of K8.2 million.
Following disbursement totalling K814 million, the IRC transferred K7.38 billion to the Waigani Public Accounts.