TREASURER Patrick Pruaitch reiterated insights into the business aspect of the 2017 money plan during the post Budget Breakfast today. While highlighting the key areas of the budget, however the overview given by PWC Senior Tax Council David Carudas who has delivered 14 previous post budget breakfast reviews has given a Report that Business houses are to feel the pinch with the budget handed down. “The businesses of PNG will be affected, it was inevitable the sin tax increases of alcohol and tobacco, but I don’t think they are going to make huge inroads into the problems government has, the issues that government has is declining revenues, the projections that the budget is premised on the Oil and Commodity prices are quite reasonable but the government doesn’t have too many places to go at the moment on this budget and the projections like extra money going to IRC is welcomed , the government is still very optimistic on the take personal income tax and company tax the fact is that the business community is feeling depressed at the moment.” said the President of the Port Moresby Chamber of Commerce David Conn. The business community is more interested in the implementation of the budget and the reality is that over the last couple of years the budget has been controlled by the issuance of warrants from treasury, and while the Government has remained focus on its key priorities the budget paper will be questioned if the funds don’t get released to where it needs to be used. PNGFM / PNGfacts Next news >> Government maintains core policies despite budget cuts
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