By Loretta B Manele
The Government for National Unity and Transformation (GNUT) is eyeing revenue measures it plans to undertake to finance the development budget.
Manasseh Sogavare, the Minister for Finance and Treasury stated this during his delivery of the 2025 Appropriation Bill 2024 in parliament yesterday.
He said on the 2025 additional revenue measures, the government plans to take on policy actions as part of its efforts to finance the development budget.
Sogavare stressed that there is a great need to strengthen and improve the collection of non-tax revenue because it can help boost additional Solomon Islands Government (SIG) revenue will further increase revenue of around $20 to $30 million in 2025.
“In my pursuit, as follows, we reintroduce the export duty on bauxite. That will give us $5.4 million.
The alcohol exercise increase will give us $3 million. We’ll reintroduce export rate of 5% on gold exports and that will give us $1.5 million.
We raise the export duty rate on nickel exports. That will give us $5.5 million.
We propose to increase license fees on vehicles, that’s $2 million. Vehicle pollution tax, that will give us $1.8 million.
Implement a number of new revenue policy measures from mining and tobacco, that will give us $5 million.
Strengthening and monitoring of logging operations and the revenue collection conduct by various key enforcement agencies will give us an additional $5 million”
Sogavare pointed out that the government will introduce the above revenue measures going forward in order to maintain a stable and manageable budget in the medium to long term.
He voiced that the budget is committed to regain fiscal stability and discipline to rebuild fiscal buffers that have been depleted over the recent years due to the global pandemic and domestic shocks that impacted Solomon Islands government financial position.
Sogavare emphasized that government agents such as IRD, the Customs and non-tax revenue tax collection from other ministries, sir, are urged to strengthen and improve their measures to control and further avoid leakages at every point.
