Taxation

Special committee needed to tackle taxation issue

He said the current tax regime is very hostile to Papua New Guineans and genuine investors with PNG’s tax rates currently the highest in the Pacific.

Juffa claimed that a significant portion of illegal and semi illegal businesses are earning profits, especially in the forestry and fisheries sectors as well as property and other poorly regulated businesses.

He added that such illegal entities are avoiding taxes and getting away with it, leaving the shortfall to be met by genuine investors like PNG SMEs and PNG wage earners.

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Parliament to make amendments on tax measures

http://www.looppng.com/content/parliament-make-amendments-tax-measures

Prime Minister, Peter O’Neill has confirmed that consequential amendments will be made to some taxation measures when Parliament sits in January.

25,000 from 63,000 grade 10s get into Grade 11

Parliament to make amendments on tax measures

PM O’Neill said there will be a clarification of some measures that were included in the 2017 Budget that are intended to ensure that entities who are not paying their fair share of tax will be compelled to do so.

“We need a review of some taxation measures so as to eliminate any confusion that people may have,” the Prime Minister said.

“This includes measures in the budget that have been raised by the public and businesses.

South Bougainville MP supports call on grog taxation

He said the Bougainville Government’s decision to tax the sale of beer was well judged. 

“All communities know that the true cost of South Pacific beer is more than the price of a carton.”

The true cost includes: