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
PNG Company tax approved
The contentious PNG company tax or ‘super tax’ on the country’s big players in the banking and telecommunication sectors finally got the green light from Parliament Wednesday, now making it a law. While the tax
Changes proposed to PNG super tax
Papua New Guinea's Parliament may consider some changes to the market concentration levy, or so-called 'super tax' this