The 2019 Budget reflects an improving economic outlook says Zanie Theron, KPMG’s PNG Country Managing Partner. She points to increased private investor confidence and positive signs with foreign exchange.
KPMG
The Treasurer, Charles Abel, has handed down the 2019 Budget, revealing a 12 per cent jump in revenues and a 9 per cent jump in expenditures. He announced changes to the income tax threshold, and an increase in capital expenditure.
To get investment into Papua New Guinea businesses, sound governance is essential. That was the view expressed by super fund managers, bankers and advisers at Business Advantage’s Investment conference in Brisbane.
Companies are reducing the size of the businesses, now using excess capital to acquire domestically but may be switching to starting up operations next year. They were some of the observations in a round table discussion on Papua New Guinea’s investment environment at the Business Advantage Invest Forum in Brisbane.
A new Country Representative for the UN in PNG, Senior Taxation appointment at KPMG
New Chairman at Kumul Telikom Holdings, Nautilus Minerals, a new High Commissioner to Australia, KPMG, SLR Consulting
The Papua New Guinea government has handed down its 2018 Budget. It indicates that the government is looking to focus more on the non-mining sectors of the economy.
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.
Kina appoints a new brand ambassador, new KPMG partner appointed
O’Neill appoints new Treasurer, a new Chair of the Securities Commission, Air Niugini appoints first woman to head a subsidiary, Ramu landowner board appointments, new partner at KPMG, a new CEO at Akzo Nobel, and a Group Operations Manager at Pacific Foam Group