Small Business Tax – SBT

Introduction

Small Business Tax (SBT) law was passed by Parliament in 2019 and 2020. This is an initiative of the Marape Government to reduce, not only the compliance burden of micro and small operators, but  introduce significantly low concessional tax rates of those individuals who are operating micro and small businesses.    SBT is expected to come into operation in April soon after gazettal.       


On the 18th and 19th of February 2021, IRC hosted ” Small Business Tax Forum Program”. Theme: “SBT – A simpler Tax Regime for Small Businesses”. Below are the presentations of the 2x days event.

DAY 1 PRESENTATIONS: SBT SPECIFIC

PUBLIC NOTICES

Notice of Management Fee Withholding Tax - [more]

Public Notice: PRWT – Prescribed Royalty Withholding Tax - [more]

Taxpayer Public Notice – Management Fee Withholding Tax - [more]

Reinvigorating Certificate of Compliance - [more]

General Notice to Suppliers of IRC - [more]

GLOBAL FORUM: PNG Peer Review Report on the Exchange of Information on Request - [more]

PUBLIC NOTICE: ISSUANCE OF A SECTION 65A NOTICE - [more]

Appointment for Acting Commissioner of Tax - [more]

Small gains to Report 14.5.2020 - [more]

MOU between IRC and IPA Media Release - [more]