Commentary
New tax increase on PNG banks raises concerns
This article originally appeared in the Economist Intelligence Unit, 23 December 2022.
30 January 2023
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The budget for 2023 in Papua New Guinea (PNG) includes an increase in the rate of corporate income tax from 30% to 45% for all banks. This maintains the hard stance on non-competitive sectors taken by the administration headed by the prime minister, James Marape, following the introduction of a one-off dominant player levy in 2022.
See the full article at the Economist Intelligence Unit.