Kundu April 2025

Welcome to the April 2025 edition of KPMG PNG Kundu. This month, we explore key topics impacting Papua New Guinea.

We discuss the IPA’s increased activity in deregistering non-compliant entities and outline the circumstances in which an entity may be deregistered and the process for restoration. 

We also cover IRC developments including the upcoming income tax deadlines and IRC plans for modernisation including the new ITAS and GST Monitoring System. 

Of note, is IRC’s focus on extractives and forestry sectors including its work with Tax Inspectors Without Borders performing collaborative case reviews on the extractive and forestry sectors. 

The Papua New Guinea Investment Promotion Authority (IPA,) through its Automated Compliance Program (ACP) of the IPA Online Registry System (ORS), has been actively deregistering non-compliant businesses since 10 January 2025. 

When searching IPA, the status of deregistered entities are now marked either as “Removed” (for local PNG Companies) or “Lapsed” (for Business Names) or “Suspended” (for Foreign Enterprises).  Deregistration can occur because of the following:

1. Company (local or foreign)

2. Business Name

3.Foreign Enterprise

• Key tax deadlines and IRC’s developments in tax administration
• IRC focus on extractive and forestry industries
• PNG IRC signed contract for Modern Integrated Tax Administration System (ITAS) 
• IRC tax agent and taxpayer meetings
• KPMG guide to Income Tax Bill 2025

Learn about key regulatory and geopolitical issues affecting the business entities in the PNG region.