WELCOME to the IRC

IRC now has presence on social platform;

TAX TYPES & TAX RATES;

  • BOOKMAKERS TURNOVER TAX – 15% of taxable Turnover
  • BUSINESS INCOME PAYMENT TAX – 10%
  • CORPORATE INCOME TAX (residents) – 30%
  • CORPORATE INCOME TAX (APT) (residents) – 30%
  • CORPORATE INCOME TAX (Non-Residents) – 48%
  • DEPARTURE TAX – K30.00/pax (International departures)
  • DIVIDEND WITHHOLDING TAX – 15% (DTA: 10%)
  • FOREIGN CONTRACTORS WITHHOLDING TAX – 15%
  • GAMING MACHINE TAX – 55% of gross profit
  • GOODS AND SERVICES TAX – 10%
  • INTEREST WITHHOLDING TAX – 15% (DTA: 10%)
  • MANAGEMENT FEE WITHHOLDING TAX – 17%
  • NON-RESIDENT ROYALTY WITHHOLDING TAX – 10% if paid to non-associate; 30% if paid to associates
  • NON-RESIDENT INSURER WITHHOLDING TAX – 10% of premium is deemed taxable income and taxed at 48% (non-resident rate) .
  • PERSONAL INCOME TAX – 0 – 42% depending on higher income = higher tax.
  • PRESCRIBED ROYALTY WITHHOLDING TAX – 5%
  • SALARY & WAGES WITHHOLDING TAX – 0 – 42% depending on higher income = higher tax.
  • STAMP DUTY – Various rates depending on property transaction and value, most conveyance is at 5% of value of property.

*Tax rates are current at 2020.

NOTICE TO THE TAXPAYERS

As of 1st January 2019, a new version of the Corporate Income Tax Form (Form C 2018) is available, for the tax period 2018, which incorporates legislative and administrative changes that are applicable under various acts passed by the parliament. The changes to the form are:

  • Declaration of resource royalty and development levy to be treated as deduction under Item 4 – Less: items deductible
  • Mandatory declaration of items under the Schedule of Revenue Foregone

Taxpayers are advised to read the explanatory note attached with the 2018 Corporate Income Tax Form and refer to the Corporate Income Tax Taxpayer Guide uploaded on the IRC website https://irc.gov.pg/tax-forms/.

The IRC has a zero Tolerance Policy against Corruption and Corrupt behaviours.

Report any corrupt practices to IRC by:
Toll Free Number: 180 1472 
Mail: P.O. Box 777, Port Moresby NCD
Attn.: THE COMMISSIONER GENERAL

Gazette Notices

Gazettal Notice for Lodgment of Income Tax Returns – No. G8 of 2019 read more..
Lodgement Gazettal for 2017 Returns read more..

New Taxation Documents