Papua New Guinea Treasury Presents 2025 National Budget

The Papua New Guinean Department of Treasury Nov. 29 presented the 2025 National Budget to Parliament. The budget includes measures to: 1) introduce excise tax at 20 Papua New Guinean kinas (US$5) per milliliter for e-cigarettes and 400 kinas (US$100) per kilogram for tobacco sticks; 2) set zero-rated VAT on specified food items from July 1, 2025, to June 30, 2026; 3) increase the threshold to 1.5 million kinas (US$374,746) from 625,000 kinas (US$155,895), for applying an extended GST filing period; 4) reduce the GST refund time limit to 4 years from 8 years; 5) increase the first home exemption ...