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
