The Port Moresby Chamber of Commerce & Industry (POMCCI) recently hosted a business breakfast in partnership with PwC PNG, focusing on the changes under Papua New Guinea’s new Income Tax Act 2025 (NITA).
Over 150 senior representatives from more than 60 member companies gathered at the Lamana Hotel on Wednesday, 1st October, to hear from PwC Tax Partners Peter Burnie and Shanol Jokhan.
The new Income Tax Act represents the most significant reform to PNG’s tax laws in over 60 years and is set to take effect from 1 January 2026. The Act introduces wide-ranging changes including:
- The introduction of a Capital Gains Tax (CGT) on certain asset disposals
- New rules on non-resident taxation and cross-border transactions
- Revisions to intra-group transactions and corporate reorganizations
- Updated provisions on employment taxes and taxable benefits
- Overhauled depreciation rules for fixed assets and business intangibles
PwC’s presentation, “NITA – A Call to Action,” urged businesses to start preparing now by reviewing their structures, employment arrangements, and cross-border activities to ensure compliance ahead of 2026.
Speaking at the event, Peter Burnie emphasized the importance of early planning: “This new Act is a once-in-a-generation change. Businesses need to understand the implications and make adjustments now to avoid disruption when it takes effect.”
POMCCI thanks PwC PNG for their insights and all members for their active participation in this important discussion.