IMF’s Power Play? IRC Chief Slams ‘Unjustified’ Oversight Board Proposal
In a bold move, Internal Revenue Commission (IRC) Commissioner General Sam Koim has fiercely opposed the International Monetary Fund’s (IMF) push to establish an “Oversight Board” to supervise the IRC’s tax enforcement.
Koim, in a strongly worded statement, dismissed the proposal as unnecessary and a direct threat to the institution’s independence.
“This is not about me or my position. The IRC is a statutory institution, larger than any individual who temporarily occupies the office,” he said.
His remarks come in response to the Post-Courier’s report that the PNG Government stands to lose over half a billion Kina in IMF assistance due to delays in meeting key anti-corruption policy reforms. These reforms include “amendments to the Internal Revenue Commission Act 2014, which are yet to go before Parliament and the appointment of an oversight committee to the ICAC, as mandated by law.”
Koim pointed out that the IMF’s proposal coincides with the IRC’s ongoing audits of major multinational corporations, some of which have never before been scrutinized.
“This coincidence raises serious questions about the IMF Country Director’s intentions and the motives behind this proposal,” he stated.
The IMF’s program also requires the government to strengthen governance by establishing “a board for the IRC’s oversight, limiting the IRC’s governance, and submitting to the IMF.”
However, Koim questioned why an independent tax authority like the IRC, which has delivered record revenue growth from K8 billion in 2020 to nearly K17 billion in 2024, should suddenly be subjected to external oversight.
Koim warned against reforms that appear to be driven by external influence rather than genuine policy needs.
“The integrity and independence of the IRC must not be compromised,” he declared.
