Sector wants to know which firms will get hit by extra tax

THE private sector wants to know from the Government which other businesses will get hit with additional taxes to raise State revenue, says the Port Moresby Chamber of Commerce and Industry.
Chamber president Rio Fiocco said businesses were unhappy with the 2022 national budget, especially the dominant industry player levy imposed on the Bank South Pacific Financial Group Ltd (BSP) and Digicel.
Even though the Government has shelved the implementation of the levy pending a review, it will be imposed on Digicel on Jan 1, he claimed.
Attempts to get a comment from Digicel yesterday were unsuccessful.
BSP chief executive officer Robin Fleming welcomed Treasurer Ian Ling-Stuckey’s announcement that consultations would be held with BSP, Digicel and the superannuation funds.
“BSP welcomes the fact that the Treasurer has decided to contact key stakeholders in relation to the bank levy, especially the fact that consultation has been initiated with senior management of superfunds whose members will be affected by the levy,” Fleming said.