PNG: The IRC launches an App for Certificates of Compliance
Finally available on the Google Play Store, the CoC Self-Validation App has been launched by the IRC
IRC's self-validation mobile phone application for verifying Certificate of Compliances was made available for download yesterday.
On the Google Play Store, you can now find the application that goes by the name "Track Tru-IRC." The CoC QR code solution will automate the authorisation of the printed CoC from SIGTAS (Standard Integrated Tax Accounting System) and provide a means for the paying authorities to authenticate the CoC document when it is presented to them in a way that is both effective and efficient.
The new app that can scan and authenticate certificates of compliance should be downloaded from the Google Play Store as soon as possible by both paying authorities and contractors.
What's a CoC and Who needs one?
The Certificate of Compliance is a document that is provided by the IRC to taxpayers who engage into a contract in which it is anticipated that eligible payments will be greater than K5,000 per year.
Contractors who receive eligible payments include the following main industries:
Building and construction, including repairs, painting, fitting of built-in furniture, and any other building or construction activity;
Road transport of any products or materials;
Repair or maintenance of any motor vehicle or any motor vehicle component, including painting, panel beating, and so on;
Building and construction-related activities. Provision of security services in addition to the construction of any items of joinery that will become permanent fixtures in any structure.
IRC has made an investment in the self-validation product as a measure to prevent corruption as a result of the growing number of instances of CoC fraud that have been reported over the years.
Taxpayers are urged by the Commissioner General, Sam Koim, to ensure that their compliance is always up to date in order to avoid any complications when attempting to acquire a COC. A COC can only be automatically generated if the conformance status of the taxpayer is up to date.
What if you are paying contractors in PNG?
While this is certainly welcome news for many contractors who provide services to clients in Papua New Guinea, there is also good news for taxpayers making eligible payments who often have a requirement to withhold taxes for the IRC if contractors cannot provide a valid CoC.
The IRC has made available on their website a CoC Lookup for paying authorities and customers to use in order to verify the legitimacy of CoCs. For more information, please visit the following link: CoC lookup | myIRC.
If you are a contractor providing services to PNG, or a payer making eligible payments, please contact us to how you can streamline your processes.