- Papua New Guinea government exempts GST on basic items in the 2025 Budget
- The announcement was made during the National Budget press lock-up at Parliament House on 30 November 2024
- Basic items exempt from GST include rice, tea, coffee, tinned fish, meat, flour, chicken, noodles, diapers, and sanitary pads
- Treasurer Ian Ling-Stuckey announced the K28 billion Budget aimed at securing PNG’s future
- The Budget focuses on reducing costs for families and improving life for citizens over the next 50 years
- University of PNG economist Andrew Anton-Mako supported the tax exemption, citing benefits observed in Fiji
- The Budget also includes a tax increase for high income earners, with a new 40 percent tax rate for earnings over 70,000 kina
Source: rnz.co.nz
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
