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$2,231,602.00 (Project budget includes all project-funded activities)
Last Updated Date
Jun 12, 2021
Project Estimated Start Date
Feb 16, 2015
Project Estimated End Date
Dec 31, 2017
Project Description
The project team will work with the PNG Internal Revenue Commission to streamline and simplify tax compliance requirements for small and medium sized businesses by reviewing and simplifying processes (forms, payment processes, audit procedures), assisting the IRC to undertake outreach and communication to SMEs in PNG and assessing the need for a special, simplified regime for SMEs.
Development Results
This project will work with the government of PNG to identify and implement reforms to simplify and streamline tax processes for small and medium enterprises. The result will be a reduction in the time and cost to comply with tax regulation.
Indicator
Calendar Year 2019 Results
Cumulative Results as of 2019
Number of women participants in workshops, training events, seminars, conferences, etc.
38
40
Number of procedures/firm-level policies/practices/standards recommended for improvement or elimination
2
9
Number of entities receiving in-depth advisory services
Not Available
2
Number of reports (assessments, surveys, manuals, Phase I/strategic option reports) completed
4
10
Number of workshops, training events, seminars, conferences, etc.
8
11
Number of new laws/regulations/amendments/codes/government policies afted, or contributed to the afting
Not Available
2
Number of entities receiving advisory services
1
1
Number of participants in workshops, training events, seminars, conferences, etc.
154
275
Number of recommended procedures/firm-level policies/practices/standards that were improved or eliminated
3
5
Number of entities that implemented recommended changes
1
2
Average number of days to comply with business regulation
Not Available
0
Number of recommended laws/regulations/amendments/codes enacted or government policies adopted
2
2
Direct compliance cost savings (US$)
Not Available
Not Available
E&S Risks / Impacts and Mitigation
Performance Standard
Description & Potential Impact
Mitigation
PS 1. Assessment and Management of Environmental and Social Risks and Impacts
As part of its Due Diligence, and as mandated by IFC's Sustainability Policy, IFC team has screened this project to assess consistency with IFC's Performance Standards. The principles of the relevant Performance Standards have been applied to the project design. Environmental and social risks will continue to be reviewed throughout the life-cycle of the project.
IFC's advice will be provided in a manner consistent with the principles of the relevant Performance Standards. The IFC team will assist the client, as the final decision maker, in gaining a good understanding of IFC's Performance Standards. The team will provide recommendations for appropriate mitigation measures whenever warranted.
Press-Release
Additional Documents
Similar Projects
This Summary of Advisory Services Project Information (ASPI) is prepared by IFC to disclose a factual summary of the main elements of this advisory services project. It may also include findings and recommendations related to environmental and social considerations regarding this project. The purpose of the ASPI is to enhance the transparency of IFC's activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the client. IFC considers that this ASPI is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed within sixty days of project's approval and may be updated periodically afterwards. Total budget and start dates are estimates only. The following ASPI is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.
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