Exclusive: Acting Tax Commissioner reveals the IRC’s plans to boost tax compliance

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Papua New Guinea’s tax agency, the Internal Revenue Commission (IRC), has announced a tax amnesty to encourage the payment of taxes. In this exclusive interview with Business Advantage PNG, Acting Tax Commissioner Sam Koim reveals the IRC’s plans to boost tax compliance.

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In Brief: Government to review resource laws next year, and other business stories

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Review of Mining Act next year, acting Tax Commissioner warns of criminal action against companies not forwarding taxes to government and wholesale internet prices may drop by two-thirds. Your weekly digest of business news.

People moves: Oil Search Ltd, Internal Revenue Commission

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Oil Search Ltd appoints a new Group Secretary and the Internal Revenue Commission announces a Commissioner General.

Analysis: testing out Papua New Guinea’s new Large Taxpayer Office

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Papua New Guinea’s new Large Taxpayer Office (LTO) has now been in operation for three months. Karen McEntee, Tax Partner at KPMG, checks in to see how it is progressing.

Economic update: slow but steady resurgence in the Papua New Guinea economy

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Papua New Guinea is getting its house in order as it anticipates a period of stronger economic growth, driven in part by significant new investment in mineral production and infrastructure. In the first of a two-part series, Andrew Wilkins discusses its economy with business leaders and assesses where it is most likely to head.

Tax amnesty relief for business in Papua New Guinea

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The Commissioner-General of the Internal Revenue Commission (IRC), Betty Palaso, has announced a temporary tax amnesty for business in Papua New Guinea. Penalties that would normally be imposed by the IRC on late lodgement of annual tax returns and late payments will not be applied for the rest of 2017.

In brief: Dual citizenship a reality by March, and other business stories

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Dual citizenship almost a reality, Wereh outlines the impact of climate change on road design and funding, and the cost to business of family violence revealed. Your weekly digest of the latest business news.

In brief: Bank of Papua New Guinea seeks K793 million loan to assist foreign exchange backlog, and other business stories

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Central bank seeks temporary loan to cover backlog of demand for foreign currency, district grants and non-tax paying companies under fire and kina to fall to its lowest level since 2003 if current rate of depreciation continues. Your weekly digest of the latest business news.

Record Budget and higher deficit feature in 2015 Papua New Guinea Budget forecasts

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The Papua New Guinea Treasurer Patrick Pruaitch has presented a record K16 billion national budget for 2015, but with an increased deficit of K2.272 billion.

Business gets serious about Papua New Guinea tax review

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Business in Papua New Guinea is now starting to focus on the looming deadlines for the country’s taxation review – a review that could have major implications for business, including the country’s resources sector.