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.
Internal Revenue Commission (IRC)
Oil Search Ltd appoints a new Group Secretary and the Internal Revenue Commission announces a Commissioner General.
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.
Ramu NiCo announces expansion, Kina Bank celebrates innovation award, and Frieda River Project Accord signed. A weekly digest of the latest business news.
New role at SPTO, new CEO at DHL Global Forwarding, new ambassador
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.
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.
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.
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.
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.