Organisations oppose plan for additional profit tax

THREE organisations are opposing the Government’s plan to introduce an additional profit tax.
The PNG Trade Union Congress, Banks and Financial Institution Workers Union, and Association for Superfunds in PNG held a press conference yesterday to highlight their disappointment with the Government.
Congress general secretary Anton Sekum said: “Of the K190mil tax, workers through their superannuation funds will be contributing their share of K55 million.
“That’s the kind of money that should be going directly into member accounts every year but sucked up by the Government to fund arbitrary tax policies on the run.
The congress and affiliate unions had called on the Government (last) November to end this tax when they passed the Market Concentration Levy.
After the Government made promises that the tax would be repealed in the March Parliament sitting, they broke their word and instead passed the Additional Company Tax Act.”
Association for Superfunds executive Vera Raga said: “Some of the essential requirements of good law making are wider consultation and reasonableness of the law.
“This law was passed without wider consultation and is unreasonable.”
Raga, also the general secretary of the PNG Banks and Financial Institution Workers Union, said people must elect carefully who should be representing them in Parliament.
“If the current Government repeals the controversial market concentration levy, perhaps you can vote them in. But if they don’t, the power lies in your votes to vote them out.”