PNG SME Directory

27/02/2025

Use your phone to Withdraw at ATMs.. The Card days are gone 🏧🇵🇬✅

Credits to the owner of the video 🙏

This post is NOT sponsored! I'm just sharing information. Cheers!

09/02/2025

NO BSP SAVE - JUST USE YOUR PHONE TO WITHDRAW CASH AT ATMs 🏧🇵🇬✅
Great news for our customers across Papua New Guinea! BSP is rolling out an innovative service that allows you to withdraw cash from any of our 301 ATMs using just your registered mobile phone number—no card needed!

This upgrade is designed to provide greater convenience, especially for those in rural areas or customers without a BSP KunduCard or VISA Debit Card.

💡 Why You’ll Love This Upgrade:

✅ Cardless Withdrawals – Use your phone number via the BSP Wantok Wallet.

✅ Deposit-Enabled ATMs – Faster transactions, shorter queues.

✅ 24/7 Access – Withdraw cash anytime, anywhere.

✅ Easy Registration – Dial *131 # and follow the prompts to sign up.

✅ Advanced Security – OTPs via SMS ensure safe transactions.

🔹 How to Register for BSP Wantok Wallet:

1️⃣ Dial *131 # on your mobile phone.

2️⃣ Enter your PIN.

3️⃣ Select "My Services" (Option 5).

4️⃣ Choose "Wantok Wallet" (Option 9).

5️⃣ Enter ** for next, then select Option 1 for registration.

6️⃣ You’ll receive a confirmation message: "You have registered for BSP Wallet." 🎉

🌟 BSP – Making Banking Simpler & Smarter for You!

Source; PNG Sun

03/02/2025

How To Calculate Tax In PNG 💰💵🇵🇬✅
Calculating tax in Papua New Guinea (PNG) depends on the type of tax (e.g., income tax, corporate tax, GST) and the taxpayer’s status (individual, business, etc.). Below is a guide to understanding and calculating individual income tax and corporate tax in PNG, based on current regulations (as of 2023). Always verify with the Internal Revenue Commission (IRC) of PNG for updates.

1. Individual Income Tax
PNG uses a progressive tax system for residents, with different rates for residents and non-residents. Employers typically deduct Pay-As-You-Earn (PAYE) taxes from salaries.

Resident Tax Rates (2023 Tax Year):
Residents are taxed on worldwide income. The tax brackets are as follows:

| Taxable Income (PGK) | Tax Rate |
| Up to 12,500 | 0% |
| 12,501 – 20,000 | 22% |
| 20,001 – 33,000 | 30% |
| 33,001 – 70,000 | 35% |
| 70,001 – 250,000 | 40% |
| Over 250,000 | 42% |

Additional Levy:
A 2% Training Levy is applied to taxable income (after deductions).

Non-Resident Tax Rates:
Non-residents (working in PNG for ≤183 days/year) pay a flat rate of 42% on PNG-sourced income, plus the 2% Training Levy.

Steps to Calculate Individual Tax:
1. Determine taxable income:
Total annual income – allowable deductions (e.g., superannuation, work-related expenses).
2. Apply progressive tax rates to each bracket.
3. Add the 2% Training Levy on the taxable income.

Example Calculation (Resident earning PGK 50,000):
- Taxable Income: PGK 50,000
- Tax Calculation:
- 0% on first 12,500 = 0
- 22% on 20,000 – 12,500 = 7,500 × 22% = 1,650
- 30% on 33,000 – 20,000 = 13,000 × 30% = 3,900
- 35% on 50,000 – 33,000 = 17,000 × 35% = 5,950
- Total Tax: 0 + 1,650 + 3,900 + 5,950 = PGK 11,500
- Training Levy: 2% of 50,000 = PGK 1,000
- Total Payable: 11,500 + 1,000 = PGK 12,500

2. Corporate Tax
Businesses in PNG pay tax on profits. Key rates include:
- Resident Companies: 30% (standard rate).
- Non-Resident Companies: 48% (if income is PNG-sourced).
- Specific Sectors:
- Mining/Petroleum: 45% (subject to project agreements).
- Small-to-Medium Enterprises (SMEs): 25% (for turnover ≤ PGK 10 million).

Dividend Withholding Tax:
- 15% for residents.
- 30% for non-residents.

3. Goods and Services Tax (GST)
- Rate: 10% on most goods and services.
- Exemptions: Basic food items, education, healthcare, and financial services.

Key Considerations
1. Tax-Free Threshold: Residents pay no tax on the first PGK 12,500 (increased to K20,000) of income.
2. Deductions: Allowable deductions include superannuation (up to 15% of salary), work-related expenses, and charitable donations.
3. Filing Deadline: Individual tax returns are due by 31 March each year.

Important Resources
- Internal Revenue Commission (IRC)
- Tax Tables: Check the IRC’s latest PAYE tax tables for precise calculations.

Always consult a tax professional or the IRC for complex cases or recent changes. Tax laws may vary for industries like mining, agriculture, or petroleum.

Read more on our website; www.pngsme.org ✅

24/11/2024

Budget your Money easily ゚viralシfypシ゚ ゚viral ゚

21/11/2024

The Power of Budgeting 💰💵✅✌️
Subscribe to our YouTube channel for more business tips 👇
https://youtu.be/HQByzeInTEA?si=VpdOX6TQrnMXaFW2

02/03/2024

Shout out to my newest followers! Excited to have you onboard! Janet Kimisha Tom, Kanaka Blo Madfox, Gwendalyn Gweso Wawi, Josh Dhu, Kamorg Sales, Geto Pangea, Angels Variety, Morgan Wonyak Teira, Mae Llia, Jeremy Lokani, Nicky James, Ganioo Brompenai GKhay, Jay Man, Jimmy Thomas, Ousi Ousi, Thomsen Fredd, Brad Ley
Visit our website for more existing services
👉 www.pngsme.org

02/03/2024

The ultra wealthy people trust their ability to make decisions fast 🎯⌚✌️ Watch more business tips on our YouTube channel ▶️

Ultra wealthy people trust their ability to make decisions fast. They are super successful because they think fast and make important decisions fast.Start a ...

12/12/2023

LIST YOUR BUSINESS ON THE PNG BUSINESS DIRECTORY FOR FREE!
It's our local PNG Yellow Page 💯🇵🇬✅

1. Go to our website (homepage of www.pngsme.org )
2. Under Business Directory, click on "Create a Listing"
3. Create an account using your email address.
3. Verify your email address and log in
4. Create a Listing by filling out the form using your respective businesses; MOIN TRADERS
5. Click Submit
6. Go to your email and verify
7. We will approve your Listing and it will appear on the website

Your can include your products & services, images, contact details, social media links, etc.

It is your free webpage we're giving it to you. You can share your webpage with anyone even on social media.

Enjoy!!

🇵🇬✅

10/12/2023

MICROSOFT EXCEL ANALYTICS TRAINING - LAE, 18TH - 22ND DECEMBER 2023 📝✍️✅
Make your Christmas meaningful by improving your MS Excel Skills 💡

Learn all the fundamentals of Excel to help you master your work proficiently and effectively; in your career, business or whatever craft you may be engaged in.

Our trainers are highly qualified and are nationally certified to deliver such vital training programs.

We will be delivering other training in the new year. They include; MYOB, Financial Literacy Training and others.

Fee: K750 per participant
Venue: Value Inn, Lae City

Contact us to book your space;

Ph (WhatsApp); 73906822 / 76074983
Email; [email protected]

Due to limited spaces, we will accept only a certain number of participants 🙏

02/11/2023

The Marape-Rosso Govt presents K80 million to NDB as part of the 2023 SME Loans commitment.
Read more about the loan requirements here 👇
www.pngsme.org/sme-loans

18/08/2023

💥IPA SETS DEADLINE FOR RE-REGISTRATION (UPDATE) OF ALL BUSINESSES 💥
The deadline has been extended to end of this month (August 31st, 2023).
Those entities who fail to update their registration details will get removed from the IPA system.

Please, read important instructions here; www.pngsme.org/ipa-re-registration

Email us; [email protected] to do Reregistration and also to file renewal for your businesses.

Regarding IPA Renewal 👉 www.pngsme.org/ipa-renewal

Regarding 💥NEW💥 IPA Registration 👉 www.pngsme.org/ipa-online-registration

Note: We have some pending registrations and Renewals to be done in the next few days. Since we have thousands of entities to so Reregistration and it's difficult to contact some of our clients simply because, they lost their contacts, we're struggling to ensure that those entities do not get removed. Therefore, some delays are experienced.
We will also post a list of those that we have registered in the last few days.

Thank you 🙏

10/07/2023

We're updating & doing Reregistration 4 over 2500 entities as per IPA reqrmnts, hence some registrations & Renewals are delayed🙏