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Unit of Study ACCT2006 - Papua New Guinea Taxation (2021)

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Unit Snapshot

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Unit description

Introduces the law and practice of taxation in Papua New Guinea (PNG) and the inter-relationship between different taxes. The main emphasis is on income tax as it applies to individuals, however, other taxes will be studied including goods and services tax and industry specific taxes. By studying this unit, students should attain a basic working knowledge of the taxes that are levied in PNG. The unit also examines some of the principles behind a good tax system and the administration of taxation in PNG.

Unit content

1. Overview of the PNG Income Tax System

2. Basic Concepts of PNG Income Tax

3. Concepts of Income Including Statutory and Exempt Income

4. Allowable Deductions including depreciation

5. Taxation of Non-residents and Foreign Income

6. Taxation of Individuals

7. Taxation of Companies

8. Mining Tax and Other Incentives

9. Introduction to Other Taxation Entities & Tax Planning

10. Tax Administration

11. GST and Other Taxes

Availabilities

Location Domestic International
Papua New Guinea - IBSU Port Moresby N/A
Session2

Learning outcomes

Unit Learning Outcomes express learning achievement in terms of what a student should know, understand and be able to do on completion of a unit. These outcomes are aligned with the graduate attributes. The unit learning outcomes and graduate attributes are also the basis of evaluating prior learning.

On completion of this unit, students should be able to:

define and state the purposes of taxation

explain the constitutional taxing powers of PNG Government

differentiate receipts that are assessable, capital and exempt under the ITA 1959 as well as deductions that are allowable and non-allowable under the ITA 1959

calculate the tax liabilities of different types of taxpayers

explain the taxation administration in relation to the processes and systems in place to enhancing tax compliance and revenue collection

explain the best tax practice available to tax professionals and taxpayers under the ITA 1959

explain the basics of how goods and services tax operates.

Prescribed learning resources

Prescribed Texts
  • No prescribed texts.

Prescribed Learning Resources may change in future Teaching Periods.