Great article! Thanks for posting the link. Just added the text below because I think it's a great read for investors. I would call BSP great value atm, with little interest. It's my favourite. It seems there is little resistance and could easily go up 50% from where we are.
THE Government may review the additional company taxmposed on the Bank of South Pacific Financial Group
Limited (BSP) "to encourage investment and growth",
according to Prime Minister James Marape.
"I am looking at the BSP tax issue, he said.
1 am having a holistic review of the entire tax structure
and tax policies
Over the next three to four months, I will dive deep intc
noW taxes have been imposed so that we come up with a
fairer taxation regime
"In my view, taxes should be fair so they don't kill
reinvestment and growth. We will find a fine balance on
the BSP tax issue." He said a "reasonable" tax could be
imposed on the BSP in the first quarter of 2024 to
encourage investment and growth, following an inquiry
nto the taxes imposed on the bank
Marape was responding to BSP's concern about the impact
of the K190 million additional company tax on its 2022
profits, and the increase in PNG's commercial bank tax rate
from 30 per cent to 45 per cent in 2023.
Marape said the Government was committed to conducting
a comprehensive review of the tax structure to reflect its
ntention to create a fair and balanced taxation regime
that promoted economic growth and sustainability.
