The Department of the Treasury of Papua New Guinea has published the documents for the 2025 Annual Budget, which was delivered to parliament on 29 November 2024. The main tax measures of the budget include: A reduction in the corporate tax rate on the taxable income of commercial banks below PGK 300 million from 45% to 40% with effect from 1 January 2025 and to 35% with effect from 1 January 2026, along with a reduction in the tax rate on taxable income above PGK 300 million from 45% to: 44% from 1 January 2025; 43% from 1 January 2026;...