By MATTHEW VARI
Sunday, May 29, 2016 (Sunday Chronicle, PNG)
IN light of the current situation in the national economy, Governor for Oro Gary Juffa has called for drastic improvements in the revenue collection system to alleviate revenue short flows.
He said the country was only collecting around 30 percent of what should be flowing into the State purse from the fisheries, forestry, and real estate sectors.
“We have been collecting roughly about 30 percent of the dues to this nation that I can honestly say that 70 percent of the companies operating in this country are still not paying, especially the companies that are operating in the fisheries and forestry sector,” Juffa said.
“There needs to be a very vigorous effort to audit these companies and bring back the monies that belong to this country into this economy.”
“The real estate industry as well in another area that is overlooked, substantial volume of real estate is owned by foreign entities who are not paying their taxes.”
He said a greater majority of the companies are operating offshore with proceeds of their business been funneled offshore.
“What efforts have been made to recoup these revenues that are the entitlement of the people of this nation?”
“The revenue collection strategies have to be overhauled. We have a passive revenue collection strategy that is not working, that is not collecting the taxes that are due to this country and our people.”
“We need to take an aggressing effort, conduct audits vigorously, collect the duties and taxes at a time that we most need it now.”
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