Porgera tax issue under review

A GOVERNMENT-selected panel is still reviewing the tax dispute between the Internal Revenue Commission and Barrick Niugini Ltd, says Prime Minister James Marape.
Marape was responding to questions on whether the three-man panel had completed its review following its appointment by the National Executive Council on Feb 5.
He said NEC noted the (slow) progress of activities required to reopen the Porgera gold mine and was concerned that the tax matter was prolonging it.
Marape said while the State continued to observe the independence of the Internal Revenue Commission, it availed itself of the opportunity to be advised independently of the issues surrounding the taxation dispute.
The NEC appointed David Sode, a former IRC commissioner-general, David Castiglione, a specialist in resource taxation, and Ron Webb QC to work with a legal firm to review the legal analysis of the IRC’s position.
“The panel has two weeks from the date of receiving the NEC decision to complete and file its report back to the National Executive Council,” Marape said.
However, he said this week that the formation would be made known once the review was completed. “The independent panel is still doing its review,” Marape said.
“Once they give their findings to the Government, the Government will be able to make an informed decision.
“A decision can be expected by this month (March).”