Internal Revenue Commission

IRC signs MoUs with provincial centres

The signing of the MOU with the Fly River Provincial Administration coincided with the official opening of a new IRC facility in Kiunga. The office space was allocated by the Fly River administration for its people to have easy access to IRC to make inquiries on tax matters, lodge documents relating to registrations, tax returns and pay their taxes.      

Palaso is Ambassador to Philippines

Commissioner General Ms Palaso will be taking up her new post as PNG Ambassador to the Philippines.

Deputy Prime Minister and Treasurer, Charles Abel expressed his gratitude on behalf of the government to the outgoing Commissioner General of Internal Revenue Commission, Betty Palaso.

Palaso has had 10 years of dedicated service to the country, which saw a lot of reforms to the Internal Revenue Commission.

One of those includes the separation of IRC from Customs and becoming an authority which could allow for the recruitment of more officers. 

Large Tax Payer Office allows IRC reforms

This new service center paves the way for the reforms IRC is undertaking, aimed at improving effective and efficient taxpayer service and taxpayer compliance initiatives.

Deputy Prime Minister Charles Abel, IRC Commissioner General Betty Palaso, representatives from the International Monetary Fund, Commercial Banks and other Large Tax Payers witnessed the opening of the new client service center today.

IRC update on mid-year target

In a statement, the IRC said by the end of June 2018, they transferred K3.36 billion to the Government against a projected mid-year target of K3.35 billion. This is net of refunds verified to tax payers and GST transfers to the provinces.

“The IRC is on track to meet its tax revenue target of K7.39 billion which was set by Government in the 2018 National Budget projections. This is about 65 percent of the total revenue to fund the National Budget,” said the IRC management.

IRC urged to Foster private sector environment

Deputy Prime Minister and Treasurer, Charles Abel, said this today in Port Moresby.

Abel also called for a simplification of the tax system for the benefit of SOEs.

Abel said the private sector was the driver of the economy and needed the enabling environment to prosper.

He added that the Small to Medium Enterprise sector must have a simple tax system.

Meantime, Abel said with the launch of the new corporate plan, Abel called for honesty and no tolerance on corruption.

PNGEITI capacity building timely, says Puiye

Acting Secretary of the Department of Petroleum and Energy, Kepsy Puiye, said this during the signing ‘Improving Resource Related Revenue Management Project,’ between the PNG Extractive Industries Transparency Initiative (PNG EITI and the Japan International Cooperation Agency (JICA).

Puiye said the project was timely give the expansions of resource projects in the country. He cited mining and petroleum as the expansion sectors.

2017 Budget outlines major tax policy measures

This will accompany significant taxation measures in the mining and petroleum sector, and the logging industry, which are actions undertaken to revamp PNG’s revenue.

K90 million is earmarked for the Internal Revenue Commission (IRC) to resource the state agency to improve compliance and broaden the tax base. The allocation is a 21.6 per cent increase (K16 million) from the 2016 appropriation.