No income tax for Papua New Guineans who earn K17,500 and below per year

News that matter in Papua New Guinea

No income tax for Papua New Guineans who earn K17,500 and below per year

PORT MORESBY: Papua New Guineans earning K17,500 and below a year will be exempted from paying income tax, says Prime Minister James Marape.

The legislation for the new annual income ceiling for low-wage earners and exemption from paying income tax was passed on Thursday (April 21, 2022) in Parliament.

The news update was published by The National:

PM: No tax for low-wage earners

April 25, 2022The NationalMain Stories

By ZACHERY PER
WORKERS earning below K17,500 a year will be exempted from paying income tax, says Prime Minister James Marape.
The legislation was passed last Thursday in Parliament, exempting those classified as low-wage earners from paying any income tax.
“The law is passed to protect our hardworking citizens,” he said.
“Parents will also be exempted from paying project fees in school.
“The Government is paying project fees passed under the new law.”
He said fuel prices would be reduced plus the prices of basic food items.
“This is to (provide relief for) the people,” he said.
Treasurer Ian Ling-Stuckey told Parliament that the Government would inject K611 million into the economy to address inflation.
The breakdown is:

  • K250 MILLION to remove fuel excise and goods and services tax (GST) on all fuel products for six months;
  • K135 MILLION to lift the income tax threshold from K12,500 to K17,500 from June 1 to the end of the year;
  • K126 MILLION to fully fund school project fees with reimbursement of project fees of 20 per cent; and,
  • K100 MILLION to reduce the cost of tinned fish, rice and flour by 10 per cent.

Marape was in Okapa, Eastern Highlands, last week at the invitation of MP Saki Soloma to open a new Okapa District Office.

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