Papua New Guinea has recorded high levels of economic growth for a number of years, mainly on the back of the PNG liquefied natural gas (LNG) project, which began production in mid-2014. The country’s abundance of natural resources has also seen many of the world’s largest oil and gas and mining companies enter the market. While the economic signs continue to be positive...
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Articles & Analysis | A run-down on taxation rules from The Report: Papua New Guinea 2014
This chapter breaks down the tax environment in Papua New Guinea, examining corporate taxation, residence rules, and other information useful for those interested in investing in PNG. It also features a viewpoint from Jonathan Seeto, Territory Senior Partner, PwC, analysing how PNG’s current tax review initiative may contribute to the economy.
Papua New Guinea is poised for change, as the country’s mineral riches are providing a major opportunity for economic development through the exploitation of natural resources. The government’s five-year strategic plan focuses on key development enablers such as free education, improvements to health services, the strengthening of law and order, rural development projects and infrastructure construction.
Articles & Analysis | Reforms aim to reduce inconsistencies and address inequality from The Report: Colombia 2014
In 2012 the Colombian government took a decision to reform the country’s tax legislation to adjust certain inconsistencies in the system. In particular, the tax reform proposed by the government aimed to accomplish the following five goals: Equality: As in any tax reform, the main goal of the 2012 changes was to obtain equality for all...
Interviews & Viewpoints | OBG talks to César Cheng Vargas, President, Deloitte Colombia from The Report: Colombia 2014
Articles & Analysis | Assessing the most recent changes to tax legislation from The Report: Colombia 2014
It has been just over a year since the tax reform embodied in Law 1607/12 was applied, and the results so far are not completely satisfactory. First, there is a feeling of deception among taxpayers in the sense that the objectives proposed by the state in the fourth quarter of 2012 were not adhered to by the government itself. Initially, the...