Foreword
PNG is not immune from cybercrime as we see from some very disturbing real-life examples of recent PNG cyber incidents. We have also explored the contents of the new Associations Incorporation Act and what it means for associations. In the IRC space, IRC are stepping up their activity with a door-to-door business mapping exercise in NCD and the recent conclusion of an extensive transfer pricing audit.
KPMG in PNG has dedicated in-house specialists in all the following areas: internal audit/risk, visa migration, corporate finance, management consulting, IT advisory, fraud investigation as well as tax and assurance. As such we are well placed to provide a truly multi-disciplined approach to business advisory.
Enjoy the read this month and reach out with any enquiries at kmcentee@kpmg.com.au if you would like to see KPMG cover specific topics in future editions.
In this Month's Kundu
Overview of the New Associations Incorporation Act
by Cieran Kelly, Senior Tax Consultant, Business, Tax & Advisory Services
As part of a suite of reforms with a view towards modernising Papua New Guinea’s compliance and regulatory environment, Parliament has recently certified a new Associations Incorporation Act 2023 that will repeal and replace the previous Act in its entirety. We understand that the old Act will be repealed a year after the commencement of the new Act, and no new associations can be incorporated under the old Act thereafter.
Other topics covered include:
- Cybercrime in PNG: What businesses need to know to stay safe.
- IRC audit activity
- IRC mapping exercise
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Please enjoy this month’s Kundu and reach out to us at kmcentee@kpmg.com.au if you would like to see KPMG cover specific topics in future editions