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Bid to transform tax payment system

Saturday, August 12, 2017

The Solomon Islands Inland Revenue Division (IRD) announced plans to modernise the Government's revenue management system, vastly transforming the tax and payment landscape in the Solomon Islands.

As a direct outcome of this modernisation project, an estimated 123,800 wage and salary employees, 200 corporate taxpayers and 3684 small businesses will be able to undertake tax-related transactions with the Solomon Islands Government in a timely and efficient manner.

The project, funded through the support of the Pacific Financial Inclusion Programme (PFIP), will result in end-to-end automation of the receipt, assessment, payment and reimbursement of all tax types involving both, corporate and individual clients of the IRD.

PFIP provided a grant of $US454,200 ($F916,817) and will create the linkages to the client, which either do not exist, or do not exist in a structured manner.

These key linkages are between the taxpayer and the IRD but also critically between the taxpayer and the formal financial system/ formal financial service providers.

Permanent secretary of the Ministry of Finance and Treasury Harry Kuma said the modernised system worked towards the Solomon Islands commitment under the Better Than Cash Alliance (BTCA) to use electronic payment channels.

"Given that 60 per cent of Government's revenue comes from the IRD, the modernised revenue management system will enable Government to drive greater efficiency, reach and provide quality services to the public."

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