In 2018 the local business community was waiting with anticipation for a jump-start to the economy of Papua New Guinea. A handful of significant events were expected to turn a new page: the country was gearing up for a meeting of the leaders of APEC countries, a liquefied natural gas project was being finalised and new mining developments were at hand. These tangible steps...
Interviews & Viewpoints | Jonathan Seeto, Territory Senior Partner, PwC: Viewpoint from The Report: Papua New Guinea 2019
Articles & Analysis | Insight into tax law and incentives for businesses in Papua New Guinea from The Report: Papua New Guinea 2019
As of 2019 Papua New Guinea is in the second year of its Medium-Term Revenue Strategy 2018-22 (MTRS). The 2019 budget and tax changes are formed by the MTRS and aligned with its intent. The MTRS is, in turn, guided by the Alotau Accord II and the government’s 100-Day Plan.
This chapter examines the tax system of Papua New Guinea, focusing on those budget and tax changes guided by the Medium-Term Revenue Strategy 2018-22, including: new revenue measures under the 2019 National Budget; the Companies Act Requirement; the Investment Promotion Act; the rules on corporate taxation; withholding tax; non-resident insurers tax; overseas shippers tax; and tax credits,...
Efforts to improve public governance are gradually bolstering confidence in Papua New Guinea’s economy, despite national performance being heavily dependent on the extractive industries. Backed by macroeconomic development plans, Prime Minister James Marape’s administration is seeking to improve debt management, reduce foreign exchange imbalances, widen access to social services and provide greater employment opportunities.
Articles & Analysis | New budget law introduces accounting mechanisms to optimise mission-oriented public spending in Tunisia from The Report: Tunisia 2019
In order to improve the allocation of public funds the new budget law – Law No. 15 of 2019 – introduces the concept of medium-term budget forecasts. This legislative reform entails the establishment of a new accounting system to be used for the state funding of programmes to meet policy objectives.
Articles & Analysis | Tunisia passes legislative reforms to streamline business regulations and boost investment from The Report: Tunisia 2019
Tunisia improved eight places to rank 80th out of 190 countries in the World Bank’s “Doing Business 2019” report. While this reflects a significant improvement in the country’s business and investment climate over one year, the government is committed to improving this ranking further, securing a position among the top-50 countries worldwide...