Tax
From The Report: Papua New Guinea 2014
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This chapter breaks down the tax environment in Papua New Guinea, examining corporate taxation, residence rules, and other information useful for those interested in investing in PNG. It also features a viewpoint from Jonathan Seeto, Territory Senior Partner, PwC, analysing how PNG’s current tax review initiative may contribute to the economy.

Articles from this Chapter

Overview

A run-down on taxation rules
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Papua New Guinea has recorded high levels of economic growth for a number of years, mainly on the back of the PNG liquefied natural gas (LNG) project, which began production in mid-2014. The country’s abundance of natural resources has also seen many of the world’s largest oil and gas and mining companies enter the market. While the economic signs continue to be positive, a major issue facing the PNG government is delivering quality services to the country and its people, especially in health…

Viewpoint

Jonathan Seeto, Territory Senior Partner, PwC, on the current tax review and its potential contribution to the economy
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PwC supports the tax review initiative implemented by the government, which is designed to take stock of Papua New Guinea’s fiscal regime to ensure, among other aims, that it supports the development goals of the country. It must also support competitiveness and efficiency, and be relevant to PNG’s situation now and into the future. Above all, it must be fair. PNG tax laws and systems have evolved over time, with very little change over several decades, yet social, demographic, economic and…