Minister of Finance and Treasury, Hon. Harry Kuma, corrected the misguided statement made by the Leader of the Independent Group, Hon Dean Kuku, on the Customs and Excise Validation (Amendment) Bill 2021, when contributing on the Motion of Sine Die.
The Minister confirmed that as part of Government’s reforms, Customs and Excise Validation (Amendment) Bill 2021 was prepared and has been progressed for second reading in Parliament.
However, the Minister revealed that the Bill will be withdraw in early 2022, since the major targeted legal issues that require Parliament’s consideration were already formalized through a gazette in 2018. The Minister revealed that the Ministry intends to review the Bill with the intention to retain specific parts of the amendment for Parliament’s approval in 2022.
The Minister also revealed that the other two important Bills, namely the National Payment System Bill and the Tax Administration Bill, are also year marked to be tabled in Parliament in 2022.
The Minister confirmed that the National Payments System Bill 2021 was tabled in Parliament Office in October, 2021 and was reviewed by the Bills and Legislative Committee. It was also confirmed that the Tax Administration Bill, is currently with the Legal Drafts Office in the Attorney General Chambers for proofreading, and will be tabled in Parliament before the end of this year.
Minister Kuma also revealed that a major tax legislative reforms is also currently underway and one of the first Bill under the reform is schedule to be presented to Parliament in 2022. The project is part of ADB assistance on Tax Reforms and Revenue Management System upgrade.