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Income Tax, Dividend (Withholding) Tax and Interest (Withholding) Tax (PNG LNG Project) (Amendment) Act 2008

PAPUA NEW GUINEA

INCOME TAX, DIVIDEND (WITHHOLDING) TAX AND INTEREST (WITHHOLDING) TAX
(PNG LNG PROJECT) (AMENDMENT) ACT 2008

No. 14 of 2008.

Income Tax, Dividend (Withholding) Tax and Interest (Withholding) Tax
(PNG LNG Project) (Amendment) Act 2008.

Certified on: 09. 10. 08

Income Tax, Dividend (Withholding) Tax and Interest (Withholding) Tax
(PNG LNG Project) (Amendment) Act 2008

ARRANGEMENT OF SECTION.

Mining Petroleum and Gas Income (Amendment of Schedule 4.4).

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Being an Act to amend the Income Tax, Dividend (Withholding) Tax and Interest (Withholding) Tax Act (Chapter 111),

MADE by the National Parliament and deemed to have come into operation on 22 May 2008.

MINING PETROLEUM AND GAS INCOME (AMENDMENT OF SCHEDULE 4.4).

Schedule 4.4 of the Principal Act is amended by adding the following new subsection:-

"2. If the taxpayer is subject to fiscal stabilisation under the provisions of the Resource Contracts Fiscal Stabilization Act 2000, an additional 2% (which shall be additional to the rate of tax otherwise payable under Subsection (1)) of the taxable income of all resource operations excluding operations pursuant to the PNG LNG Gas Agreement as defined in Section 4(1) of the Income Tax Act 1959.".

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I hereby certify that the above is a fair print of the Income Tax, Dividend (Withholding) Tax and Interest (Withholding) (PNG LNG Project) (Amendment) Act 2008 which has been made by the National Parliament.

Clerk of the National Parliament.
09 OCT 2008

I hereby certify that the Income Tax, Dividend (Withholding) Tax and Interest (Withholding) (PNG LNG Project) (Amendment) Act 2008 was made by the National Parliament on 18 September 2008.

Speaker of the National Parliament.
09 OCT 2008.