IRC COMMENCES COMPREHENSIVE AUDITS OF TWO MINING COMPANIES

The Internal Revenue Commission (IRC) announced the commencement of a comprehensive tax audit into two major mining companies operating in Papua New Guinea.

Commissioner General Sam Koim made the announcement on 22nd of December 2023.

Mr Koim said, “We have been profiling these two companies (names withheld for confidentiality reasons) for over a year. The letters formally notifying them of the audit were signed and served today.

We understand that mining is a capital-intensive operation and requires significant investment. Be that as it may, our mineral resources are finite and non-renewable, and we will run out one day. The Government needs to extract a substantial proportion of the value of the resources extracted for the benefit of its citizens, present and the future.”

This involves the design and implementation of an appropriate contractual and fiscal system. The one we have is a concessionary fiscal regime where, amongst

Discovering that death & taxes are the only certainties

JOE WASIA | Supported by the Bob Cleland Writing Fellowship @PNG Attitude

I began my education at age six in the remote Kwia primary school in the Wapenamanda district of Enga Province in 1993 and moved up the ladder until I found myself graduating from university early this year.A few weeks after graduation, I was offered a job in one of the construction companies here in Papua New Guinea.

I went to the site the day after the interview. As the company policy dictated, I had to follow the same procedures of employment as everyone else: safety inductions, medical checks and contract signing were done in the first three days.

Then, on 29 May, I started my official duties. That’s where a new chapter was opened and I started to experience the outside world.
I really enjoy working with the company despite a few challenges. Official duty starts at 5.30am and ends at 5.30pm every day. I had restless days knowing that I would be rewarded. And I was able to put into practice what I learned during my years of schooling.

After two weeks, a French colleague who was also working with us in the department asked me if I had received my salary. The common term used in PNG is pay; I hadn’t heard of salary.
In the evening, the manager gave me a medium-sized yellow envelope. On the outside it said, ‘Joe Wasia’. And on top it read SALARY in bold print.