With uncertainties in economy, government committed to ensure all businesses comply with legal processes
BY LORETTA B MANELE
With ongoing uncertainties in the short to medium term in the economy, the government is committed to ensure that all business big or small comply with legal processes.
Minister for Finance and Treasury, Harry Kuma voiced this in parliament on Tuesday, August 5, 2025 when he presented the “2025 Supplementary Appropriation Bill 2025”.
He said given the ongoing uncertainties in the short to medium term, they are committed to ensure all business operations and legal processes are adhered to by all businesses, whether small, medium or large.
Kuma expressed that he is aware that there are businesses that try to avoid paying taxes and seek exemptions or waiver.
“They seek not to pay their fair share of revenue as required by our law.
“For instance, seek waiver on the 15 percent export duty on nickel and bauxite or authorising use of suffrage,” he said.
Kuma stated that such practices do not reflect the genuineness of investors operating in Solomon Islands.
In relation, he said these businesses’ practices do not only pose risks to our revenue collections and service delivery, but also pose risks to our national security.
On this note, Kuma told parliament that his ministry is leading discussions to strengthen and improve coordination and collaboration of key agencies including Customs, IRD, CBSI and other enforcement and intelligence agencies.
“A taskforce has been set up to share information, identify and strengthen areas of leakages in the whole chain of business processes,” he said.
The finance minister strongly calls on all business operators, whether locally or foreign-owned to be clear about this.
“I would like to make a strong call here to all business operators, whether locally or foreign-owned.
“I would like to make it clear that as a responsible ministry and government, such fraudulent practices will not be tolerated,” he said.
Kuma strongly calls on all business operators, whether small, medium or big, to comply with the relevant laws and pay their fair share as required by the law.
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