The OCO in partnership with International Monetary Fund Pacific Financial Technical Assistance Centre (PFTAC) conducted a 5 days Regional Training on Risk Based Compliance Management. The Workshop was developed jointly with PFTAC to maximize the synergies that exist within Revenue authorities of OCO and Pacific Islands Tax Administrations Associations (PITAA) members.
The Workshop was attended by Officials from Cook Islands, Nauru, CNMI, Niue, Palau, PNG, Kiribati, RMI, Vanuatu, Samoa, Solomon Islands, Tonga, Tuvalu, Timor Leste and Fiji. The key theme for the workshop was finding the optimum level between facilitation of legitimate traders, taxpayers and travelers and intervention for non-compliant operators via an intelligence-led risk-based compliance management system.
The Workshop was important for members in understanding that effective risk management provides the means to achieve an appropriate balance between trade facilitation and regulatory control and that it can be can be applied by all administrations, regardless of whether they operate manual or automated systems.