Australian Tax Treaties

Papua New Guinea Agreement  

AGREEMENT BETWEEN AUSTRALIA AND THE INDEPENDENT STATE OF PAPUA NEW GUINEA FOR THE AVOIDANCE OF DOUBLE TAXATION AND THE PREVENTION OF FISCAL EVASION WITH RESPECT TO TAXES ON INCOME  

ARTICLE 2   Taxes Covered  

1.    
The existing taxes to which this Agreement shall apply are:

(a) in Australia:
the income tax, and the petroleum resource rent tax in respect of offshore projects, imposed under the federal law of the Commonwealth of Australia;

(b) in Papua New Guinea:
the income tax imposed under the law of Papua New Guinea, including:

(i) the salary or wages tax;

(ii) the additional profits tax upon taxable additional profits from mining operations;

(iii) the additional profits tax upon taxable additional profits from petroleum operations;

(iv) the specific gains tax upon taxable specific gains; and

(v) the dividend withholding tax upon taxable dividend income.

2.    
This Agreement shall also apply to any identical or substantially similar taxes which are imposed under the federal law of the Commonwealth of Australia or under the law of Papua New Guinea after the date of signature of this Agreement in addition to, or in place of, the existing taxes. The competent authorities of the Contracting States shall notify each other of any substantial changes which are made in the laws of their respective States relating to the taxes to which this Agreement applies.