IT’S a very good deal for PNG LNG and its associated companies.
For each K100 million of development levy they pay to the PNG government, they can claim K30 million as a tax deduction.
For each K100 million of royalty they can claim K100 million as a tax credit.
So let’s express this is the little kina amounts which most of us understand.
For every K10 paid to PNG by the resource companies, they get K7 stripped off their tax bill.