Papua New Guinea's New Income Tax Act in Force

Papua New Guinea's new Income Tax Act 2025 entered into force on 1 January 2026, which modernizes and simplifies the country's tax system, replacing the system under the Income Tax Act 1959. Some notable changes include:

• The introduction of a 15% capital gains tax on the disposal of the following taxable assets related to extractive industries, including indirect disposals where there is a change of 10% or more in the beneficial ownership of taxable assets:
  • a resource right, including minin…