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Goods and Services Tax (2018 Budget) (Amendment) Act 2017

PAPUA NEW GUINEA

Goods and Services Tax (2018 Budget) (Amendment) Act 2017.

No. 23 of 2017.

Certified on: 27 MAR 2018

ARRANGEMENT OF SECTIONS.

1. Interpretation (Amendment of Section 2).
2. Exemption of imported goods (Amendment of Section 7).
3. Calculation of tax payable (Amendment of Section 31).

No. 23 of 2017.

AN ACT

entitled

Goods and Services Tax (2018 Budget) (Amendment) Act 2017,

Being an Act to amend the Goods and Services Tax Act 2003,

MADE by the National Parliament and deemed to come into operation -

(a) in respect of Sections 1 and 3, on 1 January 2018; and
(b)in respect of Section 2, on 1 January 2016.

1. INTERPRETATION (AMENDMENT OF SECTION 2).

Section 2 of the Principal Act is amended in Subsection (1) by repealing the definition of "resource company" and replacing it with the following definition:

""resource company" means -

• (a) an operator as defined in Section 3 of the Oil and Gas Act 1998; or
• (b) a holder of a special mining lease, mining lease or exploration licence issued under the provisions of the Mining Act 1992;".

2. EXEMPTION OF IMPORTED GOODS (AMENDMENT OF SECTION 7).

Section 7 of the Principal Act is amended by repealing Paragraph (c).

3. CALCULATION OF TAX PAYABLE (AMENDMENT OF SECTION 31).

Section 31 of the Principal Act is amended by repealing Subsection (16).

I hereby certify that the above is a fair print of the Goods and Services Tax (2018 Budget) (Amendment) Act 2017 which has been made by the National Parliament.

Acting Clerk of the National Parliament.

27 MAR 2018

I hereby certify that the Goods and Services Tax (2018 Budget) (Amendment) Act 2017 was made by the National Parliament on 5 December 2017.

Speaker of the National Parliament.

27 MAR 2018