TAXATION

KTK Accountants and advisors

Taxation Services

Income Tax

• Preparation and review of income tax returns for taxpayers in diverse industries
• Preparation and review of income tax returns for individuals and partnerships
• Assistance with taxation registration formalities of taxpayers with the Internal Revenue Commission
• Advice on taxation issues applicable to setting up a business in PNG
• Advice to foreign investors on the application of foreign contractors’ withholding tax regime of the Income Tax Act
• Advice on various PNG taxation
• Matters (including management fee withholding tax, non-resident insurers withholding tax, business income withholding tax, dividend withholding tax, interest withholding tax, royalty withholding tax, overseas ships withholding tax)
• Assistance in relation to compliance matters in respect of income reporting system matters
• Assistance and advice related to salary or wages tax matters
• Assistance and advice on taxation implications in respect of company amalgamations
• Assistance with preparation and review of notices of objections in respect of income tax and training levy returns
• Assistance with preparation of tax effect accounting entries
• Assistance with salary or wages tax review
• Advice on the implications of double tax agreement
• Assistance in relation to repatriation of funds out of PNG including tax clearance matters
• Liaison and negotiations with the Internal Revenue Commission on behalf of various clients in respect of various taxation matters
• Assistance and advice for businesses on the specific taxation incentives or concessions available to their respective industries
• Assistance and advice for businesses on the taxation implications of various major transactions including retirement of foreign currency inter-company debts
• Assistance with due diligence work in respect of taxation matters

Goods and Services Tax (GST)

• Preparation and review of monthly GST returns
• Preparation and review of notices of objections in respect of GST notices of assessment
• Assistance and advice regarding GST reviews and matters

Stamp Duty and Customs Duty

• Assistance and advice regarding stamp duty compliance matters
• Assistance and advice in relation to customs duty matters
• Assistance with the calculation and review of excise tariff
• Assistance in relation to the release of bank guarantees
• Liaison and negotiations with the Internal Revenue
• Commission on behalf of various clients in respect of various stamp duty and customs duty matters.