Tax Identification Numbers

Compulsory TINs for all bank accounts

This is one of the main tax regime reforms under the 2018 Budget to identify personal bank accounts being used for business purposes.

Deputy Prime Minister and Treasurer, Charles Abel, says measures have commenced in this budget to tidy up the tax code by key institutions.

The Bank of PNG, Internal Revenue Commission, Investment Promotion Authority and commercial banks are cooperating to enforce compulsory TINs for all new and existing bank accounts.