The three-day tax and revenue summit ran from September 26-29th, with over 150 experts and participants from Bougainville and National Governments, local business houses, and development experts.
Presentations covered a snap shot of the current economy, as well as short and long-term options available for the government to grow the economy and increase the tax base for service provision.
The summit was a critical part in finding options for Bougainville raise revenue and income. It was a chance to provide an economic roadmap with practical and workable solutions.
The summit covered mining, taxation, options for broadening economic development, improving the business environment, and the contribution of development partners to support Autonomous Bougainville Government’s development plans.
Following the three day Revenue and Tax summit the Autonomous Bougainville Government has now developed tangible options to improve its economic position towards the goal of fiscal self-reliance.
Chief Secretary Joseph Nobetau proposed a range of initiatives based on Summit presentations and discussions. These include:
- Implementing new revenue initiatives
- Increasing compliance with the current tax laws
- Assessing feasibility of drawing down national powers and functions such as collecting and retaining personal income tax in Bougainville
- Attaining full revenue entitlements under the Bougainville Peace Agreement