- Papua New Guinea announced a zero-rated GST relief period from June 1, 2025, to June 30, 2026, for essential goods
- Essential goods include baby diapers, canned fish and meat, cooking oil, chicken, coffee, and rice
- Registered suppliers, retailers, and traders must adjust prices to reflect the zero rate
- Applying GST or maintaining pre-zero-rated prices is noncompliance and subject to penalties
- Goods qualify for the zero rate if imported or supplied and held in stock before January 1
- Importers and manufacturers can claim input GST credits only if customer prices reflect the zero rate or if goods are not stockpiled and sold at inflated prices after the relief
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
