Papua New Guinea Tax Tables 2023 - Tax Rates and Thresholds in Papua New Guinea
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This page contains the tax table information used for the calculation of tax and payroll deductions in Papua New Guinea in 2023. These tax tables are used for the tax and payroll calculators published on iCalculator™ PG, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for Papua New Guinea or would like to add to or suggest amendments to the information herein then please contact us.
2023 Tax Tables [Quick Links]
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Papua New Guinea Personal Income Tax Tables in 2023
The Income tax rates and personal allowances in Papua New Guinea are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Papua New Guinea Tax Calculator 2023.
Papua New Guinea Residents Income Tax Tables in 2023
Personal Income Tax Rates and Thresholds (Annual)| Tax Rate | Taxable Income Threshold |
|---|
| 0% | Income from $ 0.000.00 | to | $ 20,000.00 |
| 30% | Income from $ 20,000.01 | to | $ 33,000.00 |
| 35% | Income from $ 33,000.01 | to | $ 70,000.00 |
| 40% | Income from $ 70,000.01 | to | $ 250,000.00 |
| 42% | Income from $ 250,000.01 | | and above |
Papua New Guinea Non-residents Income Tax Tables in 2023
Personal Income Tax Rates and Thresholds (Annual)| Tax Rate | Taxable Income Threshold |
|---|
| 22% | Income from $ 0.000.00 | to | $ 20,000.00 |
| 30% | Income from $ 20,000.01 | to | $ 33,000.00 |
| 35% | Income from $ 33,000.01 | to | $ 70,000.00 |
| 40% | Income from $ 70,000.01 | to | $ 250,000.00 |
| 42% | Income from $ 250,000.01 | | and above |
In Papua New Guinea, contributions made by employees to superannuation funds are considered deductible for the purpose of calculating taxable income. This means that these contributions can reduce the amount of an employee's income that is subject to income tax, thereby potentially lowering their overall tax liability. This provision encourages participation in retirement savings schemes by offering a tax benefit to employees who contribute to their superannuation funds.
Papua New Guinea Social Security and Payroll Deduction Rates in 2023
In Papua New Guinea (PNG), the social security system is relatively nascent, with primary provisions focusing on superannuation (retirement savings) and worker's compensation. Contributions to these schemes are made by both employers and employees, aiming to provide financial security and support in the event of workplace injuries or retirement. Understanding these contributions is essential for ensuring compliance and optimizing the benefits available to workers and employers alike.
Papua New Guinea Social Security in 2023: Rates for Employers and Employees| Category | Employee | Employer | Total |
|---|
| Superannuation Fund | 6% | 8.4% | 14.4% |
Papua New Guinea Social Security and Payroll Deduction in 2023: Earnings Thresholds for Employers and Employees| Category | Employee | Employer |
|---|
| Min. | Max. | Min. | Max. |
|---|
| Superannuation Fund | n/a | n/a | n/a | n/a |
The social security and payroll deduction landscape in Papua New Guinea is focused on ensuring the financial well-being of employees through retirement savings and protection against workplace hazards. Employers play a crucial role in facilitating these contributions, which are integral to the social and economic support system for the workforce. As the country continues to develop, there may be opportunities for the expansion and enhancement of social security benefits to address a broader range of social welfare needs.
Papua New Guinea VAT Rates in 2023
VAT rates for Papua New Guinea are reviewed annually, you can use the VAT Calculator to calculate VAT due in Papua New Guinea or use the Reverse VAT Calculator to calculate the net cost of goods/services after deducting VAT.
Papua New Guinea VAT Rates| VAT Rate | VAT Description |
|---|
| 0% | Zero Rated |
| 10% | Standard Rate |
Historic Tax Tables supported for Papua New Guinea
The following tax tables are supported by iCalculator™ PG as part of the suite of free tax tools we provide for Papua New Guinea.