by PNG Business News - January 02, 2023

Photo credit: Internal Revenue Commission PNG - Revenue Haus in Port Moresby

The Internal Revenue Commission has collected a record revenue of K15 billion for the public purse this year, according to Prime Minister, James Marape.

In a media statement PM Marape has commended the management and staff of Internal Revenue Commission (IRC) for being an exemplary public service organization whose performance, he said, has been improving year after year in the work they do with increasing revenue collection for the country.

The Prime Minister said this during an event he officiated yesterday for the launch of the organisation’s 2022 Work Plan and 5-Year Corporate Plan.

“ICR, thank you very much for another successful year. I say thank you to you all – from the management down to the staff, every one of you who make this organisation functional,” said the Prime Minister.

“Thank you for putting together a K15 billion revenue this year.

“In 2021, without the oil price increase, you collected about K270 million for our country.

“In 2020 during the COVID-19 year, when the entire planet shut down, you collected over 100 percent, beyond what we asked of you to collect.

“This is an indication to the country that IRC is not sleeping but has been working. Your performance speaks for itself. Numbers do not lie.

“It is also an indication to all government departments that the organization that makes money takes precedence. We must support them.”

Prime Minister Marape assured IRC that his Government would fully support its 2023 work plan and that he was looking forward to seeing the implementation of the 5-year strategic plan so that as PNG celebrates its 50th anniversary as a country in several years, IRC would have matured into a dynamic organisation carrying forward the country through the revenue it collects.

“We want our country to be bigger and better in terms of Education, Health, Law & Order, Infrastructure, and Economy. These five things we want to focus on. I look forward to supporting you as we deliver these.”

He said in delivering the corporate plan, IRC must endeavor to abide by these three rules – firmness (corporate and individual citizens to abide by the laws), fairness (all taxpaying citizens to be treated with fairness), and friendliness (tax-collecting business to be handled in a cordial atmosphere).

“I look forward to the time when IRC will bring those in the black economy into the formal economy to ensure that we all pay our fair share of dues.

“We must all work to leave behind a legacy in our country. Appreciate your place and the job you have today. Look at what you must do, for your country in the big picture. There is no one else placed to make your country better but you.

"You will deliver in 2023, you will deliver in 2024; I look forward to the time when IRC becomes a robust organisation that collects all revenue required by law,” said PM Marape.

The Prime Minister said regarding housing for IRC staff, his government is currently setting aside K10 million for an housing program that would assist government workers to own a house. This is to assist with job security, so IRC staff concentrate on doing a good job in delivering the organisation’s plans and making more money for the country.

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PNG Business News - February 10, 2022

IRC Expects K9.3B Tax Revenue This Year

Photo: Commissioner-General Sam Koim According to Commissioner-General Sam Koim, the Internal Income Commission (IRC) expects to earn roughly K9.3 billion in tax revenue this year. In response to an inquiry, Koim stated that the IRC's income objective had been boosted by around K1.4 billion by the government. “Last year, we collected, in terms of net transactions to the WPA (Waigani Public Accounts), our target was K8.1 billion, but we transferred about K8.3 billion as of Dec 31, 2021,” he said. “So we exceeded the target by K200 million but in terms of gross collection, we’ve gone over about K9.5 billion. We had about K721 million transferred to all the provinces in GST distribution, we gave about 60 per cent of the GST back to the provinces where the GST is collected to support the provincial government. “Last year was a very challenging year, we still had subdued economic conditions as a result of the global Coronavirus (Covid-19). “But our team stepped up in a major way, with the Covid, we also re-strategised and moved into where the leakages were and low hanging fruits and also moving into the agile way of doing business. “In that way, it has really yielded some results that were great so we are looking at taking advantage of some of those and doing a lot of new things this year as well.” Koim said the IRC was developing products and projects to improve the organisation and also boost revenue collection. “We are hoping that by the time all the projects come to fruition, we’ll be collecting increased revenue at an optimal and sustainable level in the next three years,” he said. “This year, the Government has increased our revenue target by at least K1.3 to K1.4 billion.”   Reference: Luma, Dale. The National (7 February 2022). “IRC aims to collect K9.3bil in tax revenue this year: Koim”.


PNG Business News - February 23, 2022

IRC Inaugurates 2022 Annual Work Plan

The Internal Revenue Commission has inaugurated its 2022 annual work plan at the Revenue Haus in Port Moresby, with the subject "Building the basis of a robust, modern, and efficient tax administration by 2025." Commissioner General Sam Koim of the Internal Revenue Service (IRC) said 2021 would be a difficult year, but with the goal of making IRC a strong, modern, and efficient tax administration by 2025, IRC has dedicated the last few years of his presidency to laying the groundwork for that vision, which is based on seven strategic pillars. IRC has gathered a lot of activities around these seven pillars, according to him, and its strategic purpose for 2022 remains unaltered. “IRC has turned a corner in adopting a measured project management discipline in implementing key initiatives, and despite the measured approach, some of the initiatives featured in the last two annual plans remain incomplete. Therefore, aside from the business as usual priorities, more focus will be given to remaining foundational initiatives,” he said. Mr Koim stated that IRC's total budget prediction for 2022 is K10.509 billion, up 16 per cent or K1.327 billion from projections for 2021. He added that gross income for 2021 was K9.221 billion, based on the premise of unrestricted economic circumstances and intensified compliance efforts, but that despite the slowing economy, IRC collected K9.596 billion, exceeding the target by K375 million. Mr Koim said that the closing of Porgera Mine had a negative impact on tax collection and that the IRC had seen a decrease in employment and commercial activity in general. He went on to say that the rise in Salaries and Wages taxes, Mining and Petroleum taxes, Debt Swap, and GST raised with the introduction of S65A were all contributing elements to IRC's remarkable performance in 2021. IRC is optimistic in producing strong results this year, according to Mr Koim, because they have a lot of scheduled projects to complete.   Reference: Kamus, Maxine. Post-Courier (21 February 2022). “IRC Launch 2022 Annual Work Plan”. 

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