Section 10
of Public Finance and Fiscal Responsibility Act 2023
ActIn forceProvision 10 of 38
Section 10
(1)
The Minister is responsible for formulating and implementing revenue policy of the Government based on the principle of efficiency, fairness and equitability, and the principle of responsible fiscal management under this Act.
(2)
The formulation of revenue policy shall be based on the following objectives:
(a)
to achieve sufficient and sustainable revenue generation in the medium term and long term;
(b)
to manage and administer revenue consistent with international best practices;
(c)
to have an efficient tax system and fair legislative framework; and
(d)
to maintain a reasonable degree of predictability and stability of tax policy.