PNG considers tax relief options on fuel

News that matter in Papua New Guinea

PNG considers tax relief options on fuel

PORT MORESBY: Treasurer Ian Ling-Stuckey says the Government is looking at options for a partial or full tax relief on fuel, including import taxes and excise charges.

“We will do so in a responsible way, working towards a temporary reduction with costs limited to K350 million,” he said in a statement yesterday (April 4, 2022).

The news break was published by The National:


Govt considers tax relief options on fuel

April 5, 2022The NationalMain Stories

TREASURER Ian Ling-Stuckey says the Government is looking at options for a partial or full tax relief on fuel, including import taxes and excise charges on fuel.
“We will do so in a responsible way, working towards a temporary reduction with costs limited to K350 million,” he said in a statement yesterday.
“The war between Ukraine and Russia continues to impact cost-of-living pressures on PNG families.
“The Government is determined to make life easier for families and small businesses through goods and services tax (GST) cuts.
“The plan is to focus GST cuts on key commodities for households such as fuel, flour, rice, tinned fish and biscuits, cooking oil and women’s sanitary products.
“We are also examining options for partial or full tax relief on fuel including import taxes and excise charges on fuel.”
The legislative changes will be tabled in this month’s Parliament session.
“As previously stated in response to some industry groups, just cutting income taxes will only benefit a small proportion of our people in the formal economy,” he said.
“Even then, there will be no benefit for those on minimum wages as they already pay no income taxes.
“The preference is GST and fuel excise and fuel import tax cuts.
“We need to work with businesses to determine a fair, efficient and fast way to deliver these tax cuts.
“We need to work with the ICCC to ensure these tax cuts are passed onto families.”

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