Status Update By Gary Juffa Whilst we all focus on the asylum seeker issue, another issue of grave concern require our attention and intervention. I have spoken much about the unfair taxation system in PNG that favors giant international corporations and imposes a harsh taxation policy on Papua New Guineans and Papua New Guinean companies. A Taxation Review Committee has been established and I have been assured that my views will be taken on board but I fear that this effort may bear positive outcomes for the very entities that already benefit whilst the ordinary Papua New Guinean is once more ignored and even further marginalized. My suggestions were very simple and basic and here are the main suggestions: - Do away with taxes on all retirement and retrenchment benefits - Review all tax exemptions - Develop a more intrusive taxation regime that will aggressively pursue taxes due from resource companies in forestry, fisheries and mining - Restructure the IRC, make it corporate in its operations, pay corporate market wages and benefits and develop an intelligence driven capacity using modern technology and create a Taxation Police to criminally charge those that avoid taxes intentionally, make tax offenses criminal with hefty fines and jail terms - tax all foreign workers that are currently avoiding taxes by entering and working on business visas illegally - provide tax relief for Papua New Guinean companies - increase the tax threshold to K20,000 i.e. employees earning K20,000 should not pay tax - reduce all tax on workers by 10 % - aggressively pursue taxes on properties owned by foreign corporations and foreign entities that currently transfer funds out but pay NOTHING in taxes - impose massive fines (K50,000) on retailers that are caught selling prohibited, counterfeit or hazardous products - remove taxes on airfares to promote tourism - impose taxes on funds remitted out of PNG Currently we are NOT collecting the taxes due to PNG. Currently our banking laws are so weak that much revenues are funneled out of PNG. These efforts will see an increase in tax revenues by at least more then 200%. I encourage an effort by the people to rise up and demand changes in our taxation policies and taxation regime for improved quality of life for Papua New Guineans. Anyway, as usual, my views and suggestions will probably go ignored by those who have the opportunity to improve the lives of our people......
Posted on: Mon, 29 Jul 2013 14:01:32 +0000
Trending Topics
Recently Viewed Topics
© 2015