Internal Revenue Commission says tax collection has surged in the last three years

The Internal Revenue Commission says in its 2023 Year In Review report that tax has surged.

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Since 2020, tax revenue collections have surged, doubling from K8 billion to just about K16 billion in 2023, within a span of three years.

This year the tax collector, the Internal Revenue Commission's target is K17.4 billion

The Internal Revenue Commission says in its 2023 year in review report.


This achievement of increase in tax collections by the Internal Revenue Commission is notable considering factors such as the K280 million foregone due to Salary Wages Tax tax free threshold increase to K20,000 and the closure of the Porgera Gold Mine during the same period. The IRC says.


Commissioner General Sam Koim described last years performance as remarkable given that there was a substantial drop of around 30% in oil prices (from a high of US$123 to US$ 85 per barrel) compared to 2022.

Mr Koim attributed the surge in tax collection as a testament to the transformational change at the IRC

He says while their primary mandate was tax collection, they have made significant strides in enhancing the organisation to fulfil their mandate

In their 2023 review Personal Income Tax remains the biggest contributor to the total annual tax income at 25 per cent, then the goods and services tax at 23 per cent, corporate income tax at 22 per cent, mining and petroleum projects tax at 20 per cent and other taxes contributing 10 per cent.

Despite challenges, they described the performance over the last three years as an illustration of sustained and robust growth trajectory in the revenue collections

In 2023, tax collection soared beyond budget expectations by 21 per cent or 2.7 billion kina and exceeded the 2022 figure by 7 per cent or K1.1 billion.

The three core taxes in personal income tax, corporate income tax and the goods and services tax continue to perform strongly in 2023.

Their revenue target for 2024 is K17.4 billion and and with their their resilience and effectiveness of their strategic initiatives, they are confident of collecting that money

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