Customs records revenue collection of K1.2 billion

PRIME Minister James Marape says Papua New Guinea Customs since April has recorded revenue collections at K1.2 billion, indicating positive growth.
Marape, while commenting on Custom’s performance report for May, said despite the tough economic times facing the country, PNG Customs is doing well.
“PNG Customs recorded K3.9 billion in revenue collections for last year (2023), which is the highest under any government,” Marape said in a statement.
He added that this was a significant increase of K672.08 million or 21 per cent when compared with 2019, the first year of his government.
Customs has collected K3.34 billion per year over the last four years, recording an average growth rate of 12 per cent per year.
Due to the Coronavirus pandemic, the revenue collections for 2020 were slightly lower than those collected in 2019.
This year’s available data, covering four months, including April, indicates a positive growth for 2024.
Customs acknowledged the Government’s support to strengthen its compliance enforcement, which has led to an improvement in compliance and rise in revenue collection.
With the continuing increase in the revenue collections, Customs said it is optimistic that it would meet the Government’s projection for 2024 which is K4.25 billion.
Marape acknowledged Customs chief commissioner David Towe and his staff for the good work, adding that his government would continue supporting the agency.