PNG: Critical importance of getting your SME tax return submitted on time
In PNG the business financial year ends in December and all businesses – big and small – must submit their end of financial year tax return by the 28 February 2026.
Port Moresby based accounting and tax specialist, Emmanuel Bogino from Emmanuel Bogino & Associates says, “There is a very great need in PNG, for small and medium sized enterprises (SMEs) to understand the critical importance of completing their end of year tax return on time.”
He says the submission of a business tax return at the end of the financial year is a key requirement for SMEs to be in compliant with the Internal Revenue Commission (IRC) and Investment Promotion Authority. “A late submission can affect a business’s registration, reputation and can lead to penalties.”
“We can help SMEs get their books in order to submit on time, accurate documentation that is in compliance with IRC.”
Starting his business in 2021, Emmanuel now has two full time employees and one part time employee. Emmanuel is a qualified accountant and a Business Link Pacific quality approved advisor.
“We work with SMEs all the time. We know it can be difficult to find time to sort your tax return when you are so busy just getting your services and products to your customers. However, completion of a tax return cannot slip through the cracks.”
An advantage of contracting a BLP advisor like Emmanuel, is that BLP Advisors can apply for a BLP subsidy to help subsidise the cost of services. “This makes a big difference to our clients, making our services much more affordable,” he adds.
Emmanuel says being a member of the BLP Advisory Network has helped his business. “I’m really happy to be a part of the BLP Advisory Network. Being quality approved by BLP is an additional qualification I can add to my business credentials and a good way to market my business.” He says word of mouth advertising accounts for a lot in promoting his business. “My clients talk to their friends and family. The BLP Network affiliation is a quality standard that has helped build a stronger quality reputation for my business.”
Do you need help to support your end of year tax return process? You can contact Emmanuel direct via the BLP website Emmanuel Bogino & Associates, | Business Link Pacific or contact our BLP partners in PNG – the Lae Chamber of Commerce or the Centre for Excellence in Financial Inclusion in Port Moresby.
Pacific SMEs – start your journey with BLP
As a Pacific based SME, start your journey with BLP through our free online tools. You can self-assess your business needs with these tools that have been developed to help small- and medium-sized businesses diagnose areas that an advisor could improve.
The first step can be the online Business Health Check. You can also check your business’s resilience to respond to crises or climate change challenges on the Business Continuity Planner and the Climate Action Sensor.
If you prefer to meet a local BLP representative in person to discuss your business, get in touch with our local partners to arrange a face-to-face Diagnostic.