The 2020 budget, presented in late November 2019, introduces a range of tax proposals. The focus of certain proposals targets industry sectors, such as the banking and telecommunications sectors (instead of focusing on individual taxpayers).
Anticipated income tax and goods and services tax (GST) increases—measures that would have affected ordinary citizens—did not materialize. Instead, in 2020, there will be consultation processes in relation to banking and telecommunications license fees and levies as well as a significant increase in excise tax on unprocessed exported logs.
Among the tax proposals in the 2020 budget are the following items (many of which would have an effective date of 1 January 2020):
Read a November 2019 report [PDF 532 KB] prepared by the KPMG member firm in Papua New Guinea
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