Tax inquiry sparks rift
A RIFT has developed within the Solomon Islands tax department after claims of an $SBD 85million discrepancy.
Tax
NRL fans blast Anthony Albanese after AU$600 million PNG plan gets the green light: ‘Waste of tax payer dollars’
Australian footy fans fear Anthony Albanese is making a ‘horrible decision’ amid reports the Australian Prime Minister has given the greenlight to AUD$600million (K1.6billion) in funding to launch a new NRL team in
Hawaii poised to slap tourists with $25 climate tax
Lawmakers in Hawaii are poised to approve a US$25 climate tax on tourists who visit the Aloha State in an effort to combat what they claim is an assault on the area’s natural resources. The state, which saw 9.5
Logging tax killed industry: PNG MP Namah
Vanimo-Green MP Belden Namah says raising the logging export tax has “killed the logging industry” in Papua New Guinea. “The Treasurer (Ian Ling-Stuckey) has literally killed the logging industry,” Namah said.
Pacific “mixed feelings” after compromise on shipping’s climate goals
Governments have agreed to an improved set of climate goals for the shipping sector after climate vulnerable Pacific nations and trade-reliant emerging economies struck a compromise at talks in London. After two weeks
Fiji Budget 2023-2024: A wrap
Fiji’s Deputy Prime Minister and Minister for Finance, Biman Prasad, today presented a deficit budget in Fiji’s parliament. With a projected revenue of $3.7 billion, and expenditure of $4.3 billion, the
Fiji Budget: Reactions from the House
While the formal budget debate on the budget in Parliament commences on July 10, some MPS and stakeholders have given their initial responses to the Budget. Prime Minister Sitiveni Rabuka said the budget is “the
Fiji Budget: ‘It’s a tough but fair budget’ says Finance Minister
Presenting government’s Fiji Budget 2023-2024 to parliament this morning, Finance Minister Biman Prasad said the fiscal deficit of $639 million dollars was “higher than I personally wanted.” Prasad said
Fiji Budget: Increasing revenue, simplifying tax
The 2023/2024 Budget, which is themed ‘Rebuilding our future together’, is focused on reducing debt to sustainable levels, promoting private sector economic rejuvenation and taking care of the low income and
Solomon Islands Maritime Association wants justice on tax levy for shipping industry
Solomon Islands Maritime Association (SIMTA) wants justice in the Solomon Islands Government’s (SIG) tax levy on fares and freights imposed on seafarers and the shipping industry. It was reported the tax levy is very
Tax the rich, not the poor: former RBF governor Narube
Unity Party leader, Savenaca Narube, is concerned that proposed goods tax increases punishes the people for the sins of the previous government. The former Governor of the Reserve Bank of Fiji says a proposed
BSP ‘has standing’ in tax case in PNG
The Papua New Guinea Supreme Court has ruled that the Bank South Pacific Financial Group Limited (BSP) has standing to pursue a case challenging the constitutionality of the “additional company tax”. A five-man
K2.3billion financial sector crucial: PNG Treasurer
The banking and financial sector accounts for K2.3 billion (US$653 million) of the national economy, according to Papua New Guinea Treasurer Ian Ling-Stuckey. Ling-Stuckey discussed the banking tax and the economy with
K20million less in PNG Superannuation Fund dividends
Papua New Guinea National Superannuation Fund (Nasfund)’s dividend payout for this year is likely to be more than K20 million (US$5.6 million) lower, acting chief executive officer Rajeev Sharma says. “Our 2023
PNG’s Kina Bank K30m venture faces tax threat
Kina Bank’s plan of a K30 million (US$8.5 million) investments to extend operations across Papua New Guinea is now threatened by the 50 percent tax on commercial banks in the country. Kina Bank chief executive
Cook Islands govt pays Air NZ US$3.5 million in tax
The Cook Islands government has paid $5.4 million (US$3.5 million) to Air New Zealand following a High Court case in Rarotonga. The Court ruled in the airline’s favour and said Air New Zealand taxes should be paid
Commercial banks in PNG oppose new increase in tax
Two major commercial banks in Papua New Guinea have opposed the 45 percent tax on the banking sector to come into effect next year. BSP Financial Group Limited chief executive officer, Robin Fleming said as BSP
More Pacific collaboration to address tax challenges: PITAA
Gender inclusion, climate change and little capacity to digitalise processes are some emerging tax challenges faced in the Asia-Pacific region, heads of tax administrations have heard. Delegates to the Pacific Islands
Palau’s new tax law to cause ‘substantial impact’: Kyota
The Palau Public Utilities Corporation (PPUC) has expressed concerns on the country’s new tax law on goods and services. PPUC says the Palau Goods and Services Tax (PGST), going into effect on January 1, 2023,
Puma Energy PNG face foreign currency issues
Puma Energy PNG cannot possibly sustain its business if the foreign exchange (FX) issues remain unresolved, its country manager Hulala Tokome warned. “With the cost of crude, we cannot continue to sustain our business
BSP pays K190million extra tax
The Bank South Pacific Financial Group Limited (BSP) has declared a substantially lower net profit of K69 million (US$19 million) from K259 million (US$73 million) due to a controversial levy imposed by the Government.
Digicel considering legal options after Papua New Guinea tax
Digicel is considering an appeal against a “sudden, bizarre and unprecedented” new tax announced by the Papua New Guinea
Wrong call on PNG tax for goods and services
Papua New Guinea businesses were taken off guard last week following Government’s announcement on the 10% removal of Good and Services Tax on selected basic goods in the country by April. PNG Manufacturer Council CEO