By Samantha Iyar
In a bid to clarify his policies and address pressing issues, presidential candidate Tommy Remengesau Jr. met with journalists on October 24, 2024, at the Penthouse conference room, marking the third “Meet the Press” ahead of the upcoming election.
In a candid exchange, Remengesau addressed concerns regarding the Palau Goods and Services Tax (PGST). When questioned about President Surangel Whipps Jr.’s assertion that claims of increased taxes on citizens are misinformation, Remengesau defended his position. “If you break down the figures from the Ministry of Finance and separate PGST, Gross Revenue Tax (GRT), and Business Profit Tax (BPT), a clearer picture emerges,” he explained. He highlighted a graph in his campaign showing that businesses generating over $300,000 collectively contributed $3,070,603 in taxes, emphasizing that consumers bear the heavier tax burden.
Remengesau urged for transparency in tax reporting: “Please show the record; prove what we are saying is wrong. The numbers don’t lie.” He pointed out that while large companies like WCTC and Surangel and Sons received refunds due to overpayments, consumers continued to bear the tax burden. “The burden of tax is on consumers,” he asserted.
Addressing the issue of outmigration, which has become a trending topic among Palauan youth seeking opportunities abroad, Remengesau reflected on the underlying causes. “We need to look at why people are selling their homes and leaving,” he stated. He emphasized the importance of improving housing programs and gradually increasing wages to retain young talent. “If we raise wages too quickly, we risk closing businesses,” he cautioned.
When asked about supporting young entrepreneurs, Remengesau outlined his plan to foster local business growth. He proposed creating programs through banks to assist young Palauan entrepreneurs in developing business plans and suggested tax exemptions for first-time business owners. “We want to lessen their start-up costs so they can thrive before contributing taxes,” he said. He acknowledged the hardships faced by young entrepreneurs in various sectors, including design and manufacturing.
As the election approaches, Remengesau’s dialogue with journalists underscores the importance of open communication and transparency in addressing the concerns of Palauan citizens. With only days left until the election on November 5, these discussions play a crucial role in shaping voter perceptions and informing public discourse in this closely watched race.