Monday 3 June 2024

The Internal Revenue Commission's year in review for 2023

 Well done to Sam Koim and the team for their accountability and transparency in reporting about what they have done in the last 12 months.


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

This achievement 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.




Commissioner General Sam Koim said that last years performance was 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.



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