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  "documentTitle": "National Budget 2024/25 For Our Humanity: Now&#x27;s the time to work together.",
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  "notes": "The slide outlines specific legislative and administrative updates regarding tax policy in Papua New Guinea.",
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      "text": "This reduction in the administrative burden for taxpayers and the IRC will be welcomed.",
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      "text": "The removal of the 22% threshold from the non-resident tax table; The distribution from an authorised superannuation fund for employees with 15 years of contributions will be exempt; The IRC has been given administrative powers to issue fortnightly tax tables.",
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      "text": "The threshold for the requirement to apply for a Tax Clearance Certificate (TCC) has been increased from K500,000 to K1,500,000.",
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      "text": "As part of the plan to introduce a PNG based team into the National Rugby League (NRL) competition, full income tax exemption is planned to be introduced for the income of all players as well as international staff and officials earned in representing the club. This is scheduled to be introduced from 1 January 2025 and will continue up until 1 January 2036.",
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      "text": "As part of ensuring PNG continues to play its role in the multi national efforts on Base Erosion and Profit Shifting (BEPS) rules, the budget commentary makes references to two changes regarding turnover thresholds and penalty regimes.",
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