16 May 2013

PNG's O'Neill says govt plans to tighten tax holidays

11:27 am on 16 May 2013

The Papua New Guinea minister Peter O'Neill has told Parliament his Government plans to tighten up tax holidays for companies investing in the country.

He said exceptions would be made for companies engaged in industries such as agriculture, tourism and others where it was difficult to attract investors.

During question time in parliament, he said the Department of Treasury was currently conducting a review of the country's taxation regime, which involved public consultations.

The Post Courier reports Mr O'Neill as saying the taxation review was established a few months ago to come up with a fairer taxation system.