PNG Customs collects the highest surplus revenue in 2022

The PNG Customs Service had collected a total of K465 million plus, which is about 14% in access to its supplementary budget target, of K3 billion, for the 2022 fiscal year.

Customs Chief Commissioner, David Towe, said that this is the highest surplus revenue, Customs has ever collected to date in a single year, compared to other years.

Mr. Towe said that this amount also includes log and fuel levies collected, and it may increase to more than K500 million, in excess of the budget target, when collections for the last two weeks of December are added on. 

He said that the amount of  K3.5 billion collected comprises K2.2 billion from import duties, export tax, and excise duties, which has been remitted to the Waigani Public Account, while the other K1.2 billion, is from import goods and services tax, which was remitted to the Internal Revenue Commission.

Mr. Towe said that this growth trend in collections is very encouraging, and comes at the back of strong enforcement and compliance activities by PNG Customs.

The Chief Commissioner also said that they now look forward to a greater outlook for 2023, as they implement the new Customs Strategic Plan 2023 to 2027.

NBC News/One PNG News

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