GST

Koim welcomes GST decision

With the interim order in place, IRC will not be splitting the GST and paying directly to Central Provincial Government, Gulf Provincial Government and Motu Koitabu Assembly.

The National Capital District Commission will be distributing instead.

NCD Governor Powes Parkop said NCDC will continue to honor its commitment with the Central Province and Motu Koita Assembly.

However, it will not make any payments to the Gulf Provincial Government.

Agarobe says court decision a win for all parties

Granting the interim injunction against IRC, preventing the municipal government from paying 10%, 3% and 2% directly to Central Provincial Government, Gulf Provincial Government and Motu Koita Assembly. 

He said the decision is a win for all parties, including Central Provincial Government.

SWT reduction dependent on effective collection

Koim said they can make the recommendation once they can create enough fiscal space for the National Government.

Koim said this at the launching of the Merger between Section 65A of the GST Act and the Integrated Financial Management System.

He said currently there is a huge tax gap, especially in GST collection and focusing on GST they believe they can make enough money for the Government.

Unlike SWT, which is paid by a small percentage of the country’s population, Koim said GST is paid by everyone.

IRC and Finance partner to improve GST collection

The objective of the merger is to improve the level of compliance and GST collection amongst Government service providers and reduce the administrative burden on all National Government Agencies.

The merger was launched today in Port Moresby.

ISC Commissioner General, Sam Koim, said it is their intention to make GST the number one revenue earner in the country.

Part if the strategy to achieve this is to invoke Section 65A of the GST Act 2007.

IRC clarifies GST confusion

Dr Daton said effective from 1st January 2019, suppliers to resource companies will now charge GST to resource companies who will claim GST input credits in their monthly returns.

“In other words, ‘zero rating’, which previously applied to resource company suppliers has been removed from the GST Act in the 2019 Budget due to abuse of its application.

“Also on GST, provisions in the GST Act which allowed educational institutions to claim GST credits was repealed in the 2018 Budget effective from 1st January 2018.

PNG Loop's 5@5

Govt to hike GST rate

http://www.looppng.com/content/govt-hike-gst-rate

Treasurer Patrick Pruaitch in handing down the 2016 budget of K14.2 billion says the increase in revenue is expected to come from excise duty and the goods and services tax.