About the Ministry of Finance and Treasury
The Ministry of Finance and Treasury (MoFT) has the responsibility to provide strategic advice, leadership and reporting on economic reforms, monetary, budget and fiscal policy to the Solomon Islands Government. Across the public service, the Ministry is responsible for financial reporting, and preparing and managing the annual recurrent budget.
Minister of Finance and Treasury
Hon. Harry Kuma
Welcome to the Ministry of Finance and Treasury.
Our Mission is to aim to be a vibrant and recognised leader in delivering high quality financial related administrative services to the wider community. This is achieved through sound financial management advice and policies, good governance, creating economic stability and growth, along with border control initiatives that improves the lives of all Solomon Islanders.
Ministry services include:
- Statistics and economic management to support Government decision-making processes
- Implementation of good governance practice
- Financial reporting
- Revenue collection
- Border protection
- Government payments
- Preparing and managing the annual recurrent budget
- Advising the Government on a range of financial policies including economic reforms
To achieve its mission, the Ministry delivers services through its eight (8) Divisions.
Divisions and Departments
The Ministry of Finance & Treasury has the following Divisions under its umbrella. You will find quick information about each and their contact details if required.
Corporate Services Support Division
The Corporate Services Support Division is responsible for providing administrative support to the Permanent Secretary and the Heads of Divisions.
The Division also provides all administration and support services across the Ministry. This includes MoFT strategic and operational planning, annual reporting, Human Resources, Payroll, Gender and Social Inclusion strategies, Accounts and Budgets, Procurement, Property and Assets as well as SIG wide ICT Advice and Services.
Customs and Excise Division
The Solomon Islands Customs and Excise Division (SICED) collects revenue, manages the security and integrity of the Solomon Islands’ borders and the movement of people and goods in and out of the country.
The Economics Division includes:
i) The Regulatory Reform Team are responsible for leading revenue and tax policy reform, financial sector and sectorial reform.
ii) The Macroeconomics Policy Unit delivers forecasting and modelling, advice and analysis on medium and long term growth strategies and growth enhancement investments.
iii) The Investment Analysis Unit provides analysis and advice that includes Government projects.
iv) The State Owned Enterprises Unit delivers support services to the public and businesses.
Funding and Finance Division
The Funding and Finance Division has the responsibility for:
i) The Budget Unit leads the national annual budget process, budget reviews, provides expenditure reports and legislative reforms.
ii) The Debt Management Unit monitors and reports on Government’s existing debt obligations both domestically and externally. They evaluate and negotiate new Government borrowing, issue short-term debt securities and support stakeholder relationships on debt related matters.
iii) The Public Private Partnerships (PPP) supports sustainable economic development through provision of sound financial and economic policy advice, and supporting projects that encourage participation of the private sector and Foreign Direct Investment promoting economic growth.
iv) The Climate Finance Unit supports accessibility and management of climate financing (including disaster risk finance) of SIG sustainable development initiatives. The Unit also provides policy advice and coordination for all climate finance activities, whilst promoting partnerships with stakeholders including the civil society and the private sector.
v) The Donor Projects and Funding Unit is responsible for managing the implementation of development partner support programs and related reform initiatives.
Inland Revenue Division
The Inland Revenue Division collects approximately 60% of all Government revenue. This includes Income Tax, Sales, Withholding and Goods Tax as well as undertaking vehicle licensing. Revenue collected by this Division is used to pay for education, hospitals and the police force.
Internal Audit Division
The Internal Audit Division provides independent advice, objective assurance and consulting activity; designed to add value and improve the operation of the Public Sector. The Division also assists MoFT and Accountable Officers to identify fraudulent activities where they investigate and report in accordance with the investigation terms of reference.
National Statistics Office
The National Statistics Office is responsible to collect, process, analyse, publish and disseminate core official statistics for policy and planning, decision making and public debate. This includes coordinating, monitoring and supervision of the National Population and Housing Census.
The Treasury Division is responsible for maintaining accounting records of the Government; the preparation of annual financial statements along with financial reporting to Government, Parliament and international organizations.
They are also responsible for processing revenue collected by other ministries, IRD and Customs; processing payments to suppliers and processing of payroll on behalf of all SIG Ministries.
The Division manages the consolidated fund (official) bank accounts; cash flow forecasting, bank reconciliations, and banking relationship management responsibilities whilst maintaining and ensuring compliance of SIG financial and legislative frameworks.
Documents and Links
- SOLOMON ISLANDS GOVERNMENT ECONOMIC STIMULUS PACKAGE TO ADDRESS THE IMPACTS OF COVID-19 PANDEMIC
- MoFT Corporate Plan 2020 2022
- MOFT COVID-19 PREPAREDNESS, RESPONSE AND BUSINESS CONTINUITY STRATEGIES
- DEBT MANAGEMENT DOCUMENTS
- BUDGET DOCUMENTS
- >>>> SIG MEDIUM TERM DEBT MANAGEMENT STRATEGY 2021-2024<<<<
Here you will find the direct contact details for relevant staff at The Ministry of Finance and Treasury. Please feel free to get in touch should you have any queries you wish to discuss.
|Receptionist||(+677) 21058 or (+677) 27855|
|Corporate Services Support Division (CSS)
Under Secretary Corporate
Human Resource and Admin Team
Human Resource Manager
|Inland Revenue Division
Operation and HR Team
Education Team, PAYE, Sales/Goods Tax and Large Business Section
Audit and Investigation Section
|28366 / 28245
|Internal Audit Division||22087|
|Information Communication Technology Support (ICTSU)||27668 / 27667 / 24580|
|National Statistics Office (NSO)
Population Survey Section
Support Service Section
25451 / 27835
|Customs and Excise Office
|Treasury Division (TSY)
Switchboard and AG’s office
28792 / 28142
|Economics Reform Unit||23122|
|Financial Economic Reform Unit||27413|
|Debt Management Unit||28170|
If you’re in the Solomon Islands and wish to visit us, our office location is provided below for your convenience. We look forward to welcoming you.