• Tax

    In collaboration with a leading local accountancy firm, OBG provides an overview of the tax system, including information on corporate, sales and income taxes. Other topics include repatriation of profits, capital movements, investment incentives, Customs duties and free zones.
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Under the 2017 national budget taxation measures were set in the context of the October 2015 report released by the Taxation Review Committee, following its comprehensive review of tax law and revenue administration in Papua New Guinea. The 2017 national budget included some significant tax changes, and it is expected that further changes will...

 

How do you assess the current state of the business climate in Papua New Guinea?

Chapter | Tax from The Report: Papua New Guinea 2017

This chapter offers a guide to PNG’s taxation rules and regulations. It also examines the national budget for 2017, which introduces new changes, and explains several credits and incentives available for businesses.

This chapter contains an interview with Jonathan Seeto, Territory Partner, PwC.

After a number of challenging years, PNG is starting to hit its equilibrium point again. It has largely passed through the period of difficult adjustments, and now some balance has returned. A number of long-planned projects are progressing and new areas of opportunity are being explored.

 

The decision of the Full Federal Court of Australia in Chevron Australia Holdings Pty Ltd (CAHPL) v Commissioner of Taxation [2017] FCAFC 62, handed down on April 21, 2017, has drawn considerable interest and may influence the OECD in its development of the Base Erosion and Profit Shifting (BEPS) guidance for the application of the arm’s...

 

The major taxes imposed in Thailand are: Corporate income tax: Thai incorporated entities are generally subject to tax on their worldwide income, while foreign incorporated companies are subject to tax on income derived from carrying on business in Thailand or on certain categories of income paid from Thailand. The standard corporate tax rate...