The former minister of finance, James Marape became the eighth prime minister of Papua New Guinea on May 30, 2019 following the resignation of his predecessor, Peter O’Neill, after eight years in office. In a break with O’Neill’s approach, Prime Minister Marape struck a somewhat nationalistic tone in his first speech to Parliament, and afterwards told media that his government...
The economic downturn resulting from lower global commodity prices and the completion of the PNG LNG project have led to some criticism of the national administration; thus, the future for Papua New Guinea must be navigated with care. Peter O’Neill, who secured a fourth term as prime minister in the mid-2017 elections, faced the threat of a vote of no confidence in mid-2019....
This chapter contains selected listings of some of the Papua New Guinea’s top hotels; contact details for embassies, ministries and organisations; helpful tips for business and leisure travellers; and other useful suggestions for travellers to the country.
Already major contributors to the nation’s revenue base, Papua New Guinea’s industry and manufacturing sectors hold significant potential for future investment and development. As such, the administration of Prime Minister James Marape remains devoted to a course that will encourage and protect businesses while working towards a reduction in the national import bill. This policy serves to both...
This chapter examines the legal system of Papua New Guinea, as distributed across the national, provincial and local levels, including those governing: investment promotion; regulation of companies; taxation and tax credits; partnerships and joint ventures; personal property; power of attorney; land rights; patents; employment conditions; foreign exchange control; and sector-specific...
This chapter examines the tax system of Papua New Guinea, focusing on those budget and tax changes guided by the Medium-Term Revenue Strategy 2018-22, including: new revenue measures under the 2019 National Budget; the Companies Act Requirement; the Investment Promotion Act; the rules on corporate taxation; withholding tax; non-resident insurers tax; overseas shippers tax; and tax credits,...
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