Mr. Sam Koim has announced a historic tax collection of K1.18 Billion in one day by the Papua New Guinea Internal Revenue Commission. The funds were transferred to Waigani Public Accounts on Tuesday, 3rd April 2022.
PAPUA NEW GUINEA INTERNAL REVENUE COMMISSION (IRC) MADE A HISTORIC COLLECTION OF K1.18 BILLION IN ONE DAY.
BY SAM KOIM – IRC COMMISSIONER.
The Internal Revenue Commission made an historic collection K1.18 billion in one day this week. The funds were transferred to Waigani Public Accounts on Tuesday.
A day transfer of this magnitude is historic!
Our first Prov Tax instalments together with April’s regular collections were projected to be around K1.092 Billion. We, however, transferred K1.144 Billion, thereby exceeding our April target by 5%.
The super collection this week is on top of the April’s collection.
The windfall revenues were collected from the Mining and Petroleum Taxes. The initial budget projections were predicated on a USD60 per barrel. Due to the Ukraine/Russia War induced oil price increase, our team adjusted the Prov Tax Assessments at USD110 per barrel. This was despite the Oil and Gas Companies pitching their assessments between 80 to 90 dollars per barrel.
This illustrates the adroitness and agility of our team, in being in tune with the changing market trends and asserting our position accordingly. The times when IRC officers kowtowing to big corporations with well-paid tax advisors’ interests are over.
With this windfall yet judicious collection, we are confident of beating our half-year revenue target by the end of this month. This is a historic performance!
At this juncture, let me thank all the taxpayers who are faithfully paying their taxpayers.
Thank you!
Authorzed by,
Mr. Sam Koim, OBE, Commissioner General, Internal Revenue Commission of Papua New Guinea.
![Below is a wakeup call to the Government of Papua New Guinea by Mr. Hans Barok about the future of engineering in Papua New Guinea. Hans graduated with degree in Bachelor of Electrical Engineering majoring in Communications Engineering from Papua New Guinea University of Technology. He is working with Goodman Fielders Wilmar 11 mile Project Site, working on various tasks and roles as a: Logistician, Electrician, Forklift Operator, technician and Site Electrical Engineer. FUTURE OF ENGINEERING IN PAPUA NEW GUINEA by Hans Barok - Graduate Site Electrical Engineer at Goodman Fielders Wilmar. Hans Barok - Graduate Site Electrical Engineer at Goodman Fielders Wilmar. FUTURE OF ENGINEERING IN PNG Our government and our people invest little to none in our engineers (or engineering). Yet they can mockingly say, "when will PNG manufacture cars or plane? When will PNG engineers design a smartphone or robot etc...?" The real question here is, "have you people invest in engineering?" PLEASE ALLOW ME TO EXPLAIN THE SITUATION AT HAND In order to build a car(or robot or powerplant or smartphone etc...), our engineers at the University level needs: *Engineering and Scientific Research Labs for research in new engineering materials/tools for design & innovation. Have our government or people invest in these? If you have not contribute anything noken pairap faul. *Our country needs Papua New Guinea Engineering Standards (i.e. not a adopted Australian, US, Britain or German standards). Have our government or people help IEPNG (Institute of Engineers Papua New Guinea) or any engineering body in Papua New Guinea for that matter? If you have not contribute anything noken pairap faul!!! *The engineering students need Professional Engineering Design software (ETAP, Sold works, etc...) which cost around in the range of K10,000 to K70,000 (or even more). Can a university student afford such prices? Even we as an Institution, government or people can't afford that for our students, then what more do we expect from them? Do you plant peanut and expect it to bear coconut? *The engineering students need the government or people to provide them exposure to real-world projects with funding. Have these been done often? IF WE DON'T CONTRIBUTE WE MUST NOT BLAH BLAH HERE AND THERE. TIME FOR LESS TALK, MORE ACTION. WHATEVER THE SITUATION NOW, I HAVE THE ULTIMATE FATE THAT ONE DAY IT ALL SHALL COME TO PASS. Read more news and stories here. Watch online news and documentaries about Papua New Guinea here. [email-subscribers-form id="2"]](https://papuaniugini.org/wp-content/uploads/2022/06/a7fdf92bc0d6310cbf1b23889f4290e21654916955-1024x684.jpg)
