Minister of Finance,Johhny Koanapo Rasou , has stated that Vanuatu needs to benefit from money earned by foreign earners operating within the country.

He made these remarks during International Customs Day, in the presence of the Director of Customs, Harold Tarosa, and other Customs staff, saying there must be a policy to address this issue.

He said there will be policy considerations on how to look at what people are doing in Vanuatu, where they earn money locally but repatriate it overseas without being taxed. He stressed that many people come into the country to do business, make profits, and then send all those profits back to their home countries to build their economies, while Vanuatu does not benefit. He said policies need to be tightened so that, within Vanuatu’s jurisdiction and laws, the country can enjoy some of those profits.

He pointed out the issue of foreign cash being shipped out of Vanuatu and called for a clear policy direction on how Vanuatu can benefit from this.

He added that one issue is the shipment of foreign cash sent out of the country, and said his direction to the Director of Customs and officials is to develop policy directions for the Council to deliberate on, to better understand how money is coming into and leaving Vanuatu, and how the country can benefit from it.