Web: Residents are taxed on their worldwide income; nonresidents are taxed only on PNG-source income. Foreign- source income derived by residents is subject to corporation tax in the same way as PNG-source income. Branches are taxed in the same way as subsidiaries. Taxable income WebSep 20, 2024 · Typically, trading profits and other income (excluding income that is not specifically taxed) of resident companies in PNG is taxed at a rate of 30%, while non-resident companies operating in PNG are taxed at a rate of 48%. However, there are different tax rates on profits derived from mining, oil and gas operations carried out in the country.
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