The Minister of Revenue, Tialavea Tionisio Hunt, has announced a review of its existing tariffs and P.A.Y.E Income structure.
The plan is revealed in a statement issued by the Minister.
“It is the duty and responsibility of the Ministry of Revenue to always look for new revenue sources to fund development projects that will raise the welfare of our people,” the statement reads.
In the fulfillment of this task, the Ministry will conduct a comprehensive review of its existing tariffs and PAYE Income tax structure to be as inclusive as possible.
“Everyone regardless must contribute a fair share to the development of our country.”
According to the Minister, the Ministry of Revenue is tasked with this review and has been instructed to report the outcome of its public consultations to Cabinet.
“It is expected that this report will also contain recommendations on the most appropriate actions to take.”
“The Ministry for Revenue will commence public consultations in January 2017 and will collect views from the general public and special interest groups on the practical procedures and rates to apply.”
“A discussion paper will be distributed and the public is invited to make written or oral submission at these public consultations. The public will be duly informed of the details once finalised.”