Government increases revenue collection

The Government is working to increase revenue collection through tax collection mechanisms among others.

Treasurer Ian Ling-Stuckey when grilled about the mass borrowing and debt level - the country is expected to sit at by the end of this year, says the Five Year medium-term revenue strategy launched in 2023 is aimed at addressing that.

He told Parliament, the Internal Revenue Commission has received a mass increase in funding to enable more of their officers in the provinces, “to help crack down on stores and businesses not paying goods and services taxes.”

A new system to help the tax collection office keep track of tax-payer records, and outstandings owed in refunds is also being funded.

Treasurer Ling-Stuckey also highlighted the new GST monitoring system, to assist with real time data, on point of sale, what GST is owed and where the GST is is also one of the mechanisms used.

He says there is a new Non-Tax Revenue Act to collect monies from government and statutory authorities.

Another new dividend policy for the Government is expected to be tabled in Parliament by the Treasurer soon.

Ling-Stuckey was responding to questions from Chuave MP James Nomane on the country’s debt stock and what’s being done to raise revenue.