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 DIRECT TAXES - Tax Information
(click on
heading below then click again)
Fiscal
(Tax) Year
 Lodgement
of Returns of Income
Joint
Returns
Tax Losses
Tax Clearance
Tax
Agents
Secrecy
Provisions
Double Tax
Treaties
Lodgement
of Returns of Income
Returns of income should be
lodged by 28 February in the year following the tax year. Returns must be
made out on the appropriate form which are available free of charge from the
Internal Revenue Commission or Post Offices throughout Papua New Guinea.
Where
returns cannot be lodged by February 28, written application for extension of
time should be made which will normally be allowed for a reasonable period.
Joint
Returns
Joint returns by husband and
wife are not possible under Papua New Guinea Income Tax Law. Each individual
is assessed and pays tax in his or her own right. Returns by a partnership
are not assessed for tax. Each partner is assessed in their own right.
Tax
Losses
Up to 31 December 2000 tax
losses were able to be carried forward for seven years but this has now been
extended to twenty years. For primary producers tax losses may be carried
forward indefinitely. There is no provision to carry losses back to earlier
years.
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