Wham-Hill's Business Consultants

02/01/2023

Business Name, Companies and Associations those who are affected by IPA Upgrading of its systems down here at IPA Head Office at Konedobu, Port Moresby.Whilst IPA Upgrading it's System most Entities are currently deregistered from the IPA Registry. Individual entities you need to reregistering your entity through online services. If you require more information or require assistance on this subject matter,you can inbox us or email us @, [email protected] or call on 7704 7685. Thank you

22/05/2022

20/04/2022

The founding directors and shareholders together with their fathers (Mr Gore, Mr Leveni, Mr Koiam and Mr Fabila ) during our office opening … 🙏🏾❤️🧡

10/03/2022

TAXATION APPEALS - DISPUTED TAX DEPOSIT
https://lnkd.in/gcx7RD2M

Pursuant to Section 247 of the Income Tax Act 1959 as amended, the lodgment of a tax appeal to the Income Tax Review Tribunal or to the National Court shall only be valid after mandatory payment of the following:
1.The payment of fifty percent (50%) of the disputed amount of tax; and
2. In the case of an application to the Tribunal, the following fees are in compliance with Section 248 of the Act: -

- Where the value of tax in dispute does not exceed K2 000 per year of tax - K50.00 per application, or
- Where the tax value in dispute exceeds K2 000 per year of tax - K250.00 per application.

The IRC wishes to advise all taxpayers and tax agents that all payments of the 50% disputed tax amount, can be deposited into the following trust account:

Bank: Bank of South Pacific
Account name: IRC Disputed Tax Holding Trust Account
Account number: 7026123542
BSB number: 088-294
Swift code: BOSPPGPM
Branch: Port Moresby

Disputed tax amounts deposited into the account shall be held in trust pursuant to Section 247 and the trust instrument and shall only be dealt with in accordance with the outcome of the appeal.

The process for the payment of the K250 appeal fee shall continue as current.

For further queries, please contact officer Ms. Stephanie Gibson, Secretariat to the Income Tax Review Tribunal on email [email protected].

Authorized by:

Mr. Sam Koim, OBE
Commissioner General

Release date: 10th of March 2022

25/02/2022

As the nation and everyone unite to pay respect tomorrow (February 26) in the first death anniversary of late grand Chief Sir Michael Somare, Melbourne Storm centre Justin Olam will also do the same in Australia.

21/02/2022

Goods and Services Tax (GST) is a tax on the consumption of goods and services and is charged at 10% of the sale price. Any business with an annual turnover of K250,000 is required to register a GST account under their Tax Identification Number (TIN) with IRC and charge GST. That business is also expected to pay and file on time. Any business with a turnover of less than K250,000 can charge GST so long as they open a GST Account with the IRC.

A business that charges GST without registering with IRC, and a business that charges GST but fails to lodge returns and pay on time, can be charged administratively and criminally.

Monthly GST returns are due 21st of the following month. The GST returns for January are due on the 21st of February. Please file and pay on time to avoid penalties.

We remind you that the deadline of the obligation of filing and paying the Goods and Services Tax (GST) return for the month of January 2021 is on the 21st of February 2022. Bear in mind that providing inaccurate infor-mation in the tax return might not be considered as an oversight, but as a voluntary choice, which would repre-sent a violation of your obligations as a taxpayer, and can attract severe penalties including prosecution under section 95 of the GST Act 2003 and/or section 418 of the Criminal Code Act 1974.

If you don’t have a myIRC account, it’s easy to get started Registering a myIRC account is quick and easy, all you need is a valid email address, a strong password and your TIN/TTA. https://irc.gov.pg/register

Registering for myIRC will enable you to make instant online payments and interact with IRC services on your phone, tablet or computer.

What if I need assistance? If you need assistance registering a new myIRC account, please contact us through the Support Centre.

https://irc.gov.pg/support-centre

31/01/2022

How to grow peanuts..100+ per plant

The peanut (Arachis hypogaea) is also known as the groundnut, goober or monkey nut. It is a legume that is grown primarily for its edible seeds. Widely grown in the tropics and subtropics, peanuts can