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Home > News > PNGCS ups tax takes

PNGCS ups tax takes



Sat Nov 27 2010

PAPUA New Guinea Customs Service (PNGCS) has continued to inject additional revenue to the Government purse with more than K17 million surplus for August alone. This shows the progress of PNGCS in its revenue collection activities since being separated from the tax service last year. In a monthly report released to the finance secretary and minister last week, PNGCS Commissioner Gary Juffa said PNGCS collections for the month of August were ahead of this year’s budget estimate by K17.66 million. The actual collections totalled K162.21 million compared to an expected K144.44 million, up 32% from the same period last year. Thanking his officers throughout the nation for their tireless efforts in the previous months, Juffa said the surplus for August was again attributed to higher import and export taxes. “The rise in these taxes is associated with increase in the international trade volume generated by major resources project including the multi-billion kina LNG project,” Juffa said. With the continued positive trend, he assured the country PNGCS’s commitment to continue embracing additional revenue-focused measures in maximising tax collections. “PNGCS, as a vibrant government agency, wants to lead in contributing to nation-building and to the protection of our vast natural resources. “However, we are constrained by capacity issues and the growing movement of people and goods across our international border. “We note an increase of 10% per month in international travellers,” Juffa said.

Source:The National