Papua New Guinea

Papua New Guinea

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Papua New Guineaa€™s 2005 Article IV Consultation reports that the economy continues to perform well as the recovery maintains its momentum and the authorities adhere to disciplined fiscal and monetary policies. The central government budget has been estimated to be once more in surplus in 2005, as mining and petroleum revenue remain strong and overall expenditure is kept in check, resulting in a further reduction in public sector debt. Monetary policy has achieved a favorable combination of relatively low interest rates and inflation.They also pointed to the possibility of raising goods and service tax (GST) rates if needed in the future. FY2006-07 Main Tax Policy Measures 1/ Personal income tax Increase in the tax-free threshold from K6, 000 to K6, 300 in 2006 and to K6anbsp;...

Title:Papua New Guinea
Author:International Monetary Fund
Publisher:International Monetary Fund - 2006-03-13


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