Shared Transport Sector of Public Enterprises paid Government 5.5 million pa’anga tax and dividend
Radio & TV Tonga, Nuku’alofa, 13/02/2020
The Shared Transport Sector of Public Enterprises for Ports Authority, Tonga Airports Limited and the Friendly Islands Shipping Agency paid to the Government of Tonga a total tax and dividend of 5.5 million pa’anga.
As a result, from the successful operations of these enterprises during the financial year 2018/2019 the total tax paid was 1.9 million pa’anga. This is an increase of 57percent from the financial year 2017/18
The Minister of Public Enterprises who’s also the Prime Minister accepted and declared the dividend payment of 75% of net profit after tax totaling at 3.9 million pa’anga.
The Minister of Public Enterprises Government emphasized that the 75% of net profits after tax for the 2018/19 fiscal year is to assist Public’s transport sectors namely PAT, TAL and FISA on meeting their critical projects, also in facilitating essential services provided by the Government for the people of Kingdom.
Despite the challenges the Transport Sector Public Enterprises faced during the Financial Year 2018/19, the Chairman of the Shared Transport Sector Board of Directors highlighted major achievements during the year
These projects aim at improving and developing port facilities, international and inter-island air and ferry transport services that will benefit the people of Tonga.
The announcement was made during the Annual General Meeting of the Shared Transport Sector Public Enterprises for the Financial Year 2018/19 on Monday.
© Radio and Television Tonga News