On 1 December 2023, the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) entered into force for Papua New Guinea. Regarding the tax treaties between Papua New Guinea and other

On 7 September 2023, the OECD published the updated position of signatories’ countries regarding the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). Accordingly, Papua New Guinea

On 29 November 2022, the Papua New Guinean Department of Treasury has announced the 2023 National Budget to Parliament, containing increased tax rate for banks. Accordingly, the corporate tax rate on banking institutions will rise to 45 percent from

On 4 March 2022 the World Bank published an economic update on Papua New Guinea recommending changes in tax policy and administration to improve revenue collection. The report notes that tax collection has been in decline, and this has been made

On 28 February 2022 the OECD released updated transfer pricing country profiles for 22 countries, together with new transfer pricing profiles for six more countries. This is the third batch of updates for 2021/22. The OECD transfer pricing

With a theme of “Consolidation for Growth”, on 17 November 2020, the government of Papua New Guinea has presented Budget 2021 that focuses on fiscal consolidation and stimulating economic growth with the aim of rebuilding the living standards