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Goods and Services Tax (P'nyang LNG Project) (Amendment) Act 2022

PAPUA NEW GUINEA

Goods and Services Tax (P'nyang LNG Project) (Amendment) Act 2022

No. 26 of 2022
Certified on: 30 MAY 2022

ARRANGEMENT OF SECTIONS.

1. Interpretation (Amendment of Section 2).
2. Zero-rating of exported goods (Amendment of Section 19).
3. Other zero-rated goods (Amendment of Section 21).

AN ACT

entitled

Goods and Services Tax (P'nyang LNG Project) (Amendment) Act 2022,

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

MADE by the National Parliament.

1. INTERPRETATION (AMENDMENT OF SECTION 2).

Section 2 of the Principal Act is amended in Subsection (1) by inserting immediately after the term "public authority" the following new terms in alphabetical order:

""P'nyang LNG Gas Agreement" has the meaning given to it in the Income Tax Act 1959;
"P'nyang LNG Project Entity" has the meaning given to it in the Income Tax Act 1959;
"P'nyang LNG Project Operations Delegate" has the meaning given to it in the P'nyang LNG Gas Agreement;
"P'nyang LNG Project Petroleum" has the meaning given to it in the Income Tax Act 1959;"

2. ZERO-RATING OF EXPORTED GOODS (AMENDMENT OF SECTON 19).

Section 19 of the Principal Act is amended in Subsection (1) -

(a) repealing the full stop from Paragraph (1); and
(b) by inserting immediately after Paragraph (i) the following new paragraph:

• "(j) the goods supplied are P'nyang LNG Project Petroleum and that P'nyang LNG Project Petroleum is supplied to any Project Entity or exported by any person whether under that supply or another supply or otherwise.".

3. OTHER ZERO-RATED GOODS (AMENDMENT OF SECTION 21).

Section 21 of the Principle Act is amended in Subsection (1) by inserting after Paragraph (k) the following new paragraphs:

"(l) the supply is the supply of goods or services, other than cars, to a resource company that is a P'nyang LNG Project Entity or a P'nyang LNG Project Operations Delegate for use solely in carrying on its resource operations; and
(m) the supply relates to a notice under Section 158K of the Income Tax Act 1959 or any consideration for or in respect of a transfer contemplated by that Section or such a notice.".

I hereby certify that the above is a fair print of the Goods and Services Tax (P'nyang LNG Project) (Amendment) Act 2022, which has been made by the National Parliament.

Clerk of the National Parliament.
30 MAY 2022

I hereby certify that the Goods and Services Tax (P'nyang LNG Project) (Amendment) Act 2022, was made by the National Parliament on 21 April 2022.

Speaker of the National Parliament.
30 MAY 2022