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DIRECT TAXES - Tax Incentives (click on heading below then click again) Accelerated Depreciation Initial year Depreciation Export Sales Export Market Development Rural Development East New Britain/Bouganville Staff Training Tax Incentives PNG offers a number of attractive tax incentives which new and existing investors may wish to take advantage of. Accelerated Depreciation New industrial plant is eligible for increased depreciation up to 100% of cost. The taxpayer may elect the amount to be claimed in any year, but not so as to create a loss. To qualify, the plant must have a life exceeding five years, and can be used by the taxpayer or any other person. Expenditure on plant, or buildings for storing raw materials for finished products, also qualifies. In the case of accelerated depreciation for agriculture and fisheries, expenditure on new plant or article used in agricultural production or commercial fishing activities can be written off 100% in the first year. Ships to be used solely as dive boats or for scuba diving/snorkelling tour operations also qualify for a 100% in the first year. View and Print Tax Incentives (Incentives.PDF 7KB)

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