The joint operation involving more than ten key government agencies commenced last year.
Asian owned businesses were mostly targeted as many were operating illegally around the country.
The operation also resulted in the discovery of un-banked cash worth thousands of Kina.
Since last year, more than 10 key government agencies have been involved in a joint operation code-named JASCO-Joint Agency Spot Check Operation.
Chief Migration Officer Stanis Hulahau says out of the K700,000 spent on the operation alone, K5 million of lost revenue have been generated.
From investigations and revenue collected so far, the Internal Revenue Commission has generated more than 80 per cent of lost revenue.
The amount of lost revenue recouped during the operations indicates that a lot more work is needed to round up illegal migrants and businesses operating in the country.
One of the most profound elements identified was noncompliance to tax rules and regulations.
Most companies are operating in the country without paying tax to the government.
Another astounding revelation during the JASCO operations was the discovery of a large amount of unbanked cash.
The JASCO operation scaled down its activities due to the upcoming national elections.
A hype of activities will commence towards the end of this year.
Meantime, the ICA recently signed a MOU with IPA-Investment Promotion Authority to strengthen ongoing corporation and sharing of information.
The partnership enables both organizations to exchange vital information in the area of doing business, compliance and enforcement of laws.
The National Gaming and Control Board and the Internal Revenue Commission had similar arrangements in place to weed out corruption.
NBC News- Mark Kayok
Posts
