Tax
From The Report: Papua New Guinea 2012
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In conjunction with DFK Hill Mayberry, OBG explores the taxation system. Tony Canning, Partner, DFK Hill Mayberry, shares a viewpoint on the challenges of establishing a company in PNG.

Articles from this Chapter

Overview

Facts and figures: An overview of the country’s tax laws
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Businesses are able to operate in Papua New Guinea in the forms of: sole proprietor; partnership; joint venture; trust; or company. This list is not exhaustive, as PNG landowners are allowed to form companies or trusts to hold their interest in resource projects. There are specific rules for such entities. CORPORATE ENTITY REGULATIONS Most businesses in PNG are registered under the “company” status. This is mainly due to the distinct advantage offered by this structure, such as limited liability…

Viewpoint

Tony Canning, Partner, DFK Hill Mayberry, on the challenges of establishing a company in PNG
OBG
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As the world grapples with fuel and energy shortages, countries like PNG, with huge deposits of minerals and hydrocarbons, are benefitting greatly. The government’s efforts to attract foreign investment and skills by providing direct assurance and various tax incentives has caught the attention of the international business community, which has been lining up to take advantage of the commercial opportunities on offer. At the same time, PNG’s poor infrastructure and administrative capabilities…