Corporate tax relief for Manus

By PETER ESILA
PRIME Minister James Marape says under the Manus Special Economic Zone (MSEZ) project, companies operating in Manus will not pay corporate taxes to incentivise economic growth.
He said this at the opening of the K32 million Momote Airport terminal yesterday.
He said the new facility needed to generate more money for the province. The terminal was funded by the Government and Asian Development Bank and implemented by National Airports Corporation under the civil aviation development programme.
The airport upgrade including the construction of the new terminal cost K101.9 million.
“We have already passed a law that Manus will become a special economic region in our country,” Marape said.
“Any company who wants to operate in Manus will not pay corporate taxes.
“I welcome PNG and international companies into Manus. You can come and set up your base in Manus, and employ locals, you can pay your GST (goods and services tax) and others, but no corporate tax as a way to make this airport generate more money and for a port to generate more money for locals and PNG because we want all parts of our country to generate economic activity.”
Marape said the Government would fund K10 million for a MSEZ head office to be established in Lorengau.
He said the project could push Momote to become an international airport.
“This office (MSEZ) will work with the airport and the Manus provincial government for us to grow commerce and business here in Manus. I believe that Manus will grow.
“The special economic zone and the road for Manus to become economically independent and a resilient local economy contributing to PNG.”
Marape said after 46 years the country was still not economically strong and in order to achieve that there had to be equal growth across the country.
“We want every part of the country to be strong.”