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Papua New Guinea Sessional Legislation |
PAPUA NEW GUINEA
Excise Tariff (2024 Budget) (Amendment) Act 2023
No. 23 of 2023
Certified on: 16 JAN 2024
ARRANGEMENT OF SECTION.
Excise Tariff (Amendment of Schedule 1 – Duties of Excise).
AN ACT
entitled
Excise Tariff (2024 Budget) (Amendment) Act 2023,
Being an Act to amend the Excise Tariff Act (Chapter 107),
MADE by the National Parliament to come into operation on 1st December 2023.
EXCISE TARIFF (AMENDMENTS OF SCHEDULE 1 - DUTIES ON EXCISE).
Schedule 1 of the Principal Act is amended by repealing and replacing the excise duty rate and remarks shown below:
"
| Tariff Item | Description | From 1st December 2023 until 31st May 2024 | From 1st June 2024 and onwards | Remarks |
| 2402.20.40 | Cigarettes of tobacco or tobacco substitutes with filter containing tobacco that is locally manufactured in PNG. These items must
carry a manufacturers selling price (MSP) below K18.50 per 25's pack or K740.00 per thousand sticks. | K251.60 per 1000 sticks | K257.89 per 1000 sticks | 2.5 per cent biannual excise indexation to kick in on 1st June 2024 and onwards. For local manufactures to sell in this second tier, it must first sell the main tier-1 (2402.20.10) to qualify. Only 50.0% of the
main tier-1 of the previous year, will be allowed to be cleared in this new tier (2402.20.40). |
I hereby certify that the above is a fair print of the Excise Tariff (2024 Budget) (Amendment) Act 2023 which has been made by the National Parliament.
Clerk of the National Parliament
16 JAN 2024
I hereby certify that the Excise Tariff (2024 Budget) (Amendment) Act 2023 was made by the National Parliament on 1 December 2023.
Acting Speaker of the National Parliament
16 JAN 2024
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URL: http://www.paclii.org/pg/legis/num_act/et2024ba2023267
