PNG Extractive Industry Transparency Initiative (PNGEITI)

Kassman congratulated

He recently replaced Gerea Aopi, who has been at the helm of the position with distinction.

Richard Kassman is the director corporate affairs, Total E&P PNG Limited; an active member of the PNGEITI Multi Stakeholder Group (MSG) and he was vice president of the Chamber during the time of his appointment.

Kassman represents Total PNG Ltd in the PNGEITI MSG which oversees the implementation of the Global Extractive Industries Transparency Initiative (EITI) in Papua New Guinea.

Income tax amendment allows PNGEITI access

This will allow the PNGEITI to easily carry out its role by collecting revenue data on how much revenue is paid to the state.

PNGEITI Head of National Secretariat, Lucas Alkan, said amendments to the Income Tax Act gives them access to resource extraction companies’ revenue from the IRC.

Previously the PNGEITI needed to have signed waiver forms from companies allowing them access to the information.

Alkan says many of the challenges in obtaining revenue data from the extractive sector remain, however, they are slowly making inroads.

Increased accountability in TCS needed: Report

This was one of the recommendations of the PNG Extractive Industry Transparency Initiative (EITI) 2016 Report.

The report states that previous PNG EITI reports have found discrepancies and inconsistencies in the reporting of the value of tax forgone as a result of funds spent on infrastructure development.

The report states that reporting templates for the 2016 report were updated in an attempt to clarify the value of funds spent and forgone.

​Revenue must translate into tangible development

Acting First Secretary Foreign Aid Division, of the Department of National Planning and Monitoring, Loia Vaira, said this during the signing of the ‘Improving Resource Related Revenue Management Project’ on Monday.

The project involves capacity building and technical assistance from the Japan International Cooperation Agency (JICA) to the PNG Extractive Industry Transparency Initiative (PNGEITI).