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Deed of Settlement Signed Between the State and Puma Energy

By Meriba Tulo – EMTV News, Port Moresby

A dispute between PNG Customs and Puma Energy over outstanding import Goods & Services Tax has been brought to a close, with both parties signing a deed of settlement. As a result, Puma Energy PNG will now pay K40 million to the State. This follows months of dialogue and reviews by both parties.

According to Customs Chief Commissioner, Ray Paul, the decision to reach this agreement was positive.

“There has been a lot of work put in by both Customs and Puma Energy to reassess a relatively complex area of Import GST payment requirements. It has been an example of Customs working closely with business, delivering an accurate assessment and ensuring the delivery of an Import GST tax process that supports business in PNG.”

Puma Energy Country Manager, Jim Collings, acknowledged the input of all parties and was pleased to see that the working relationship between Puma Energy and PNG Customs were more cordial as a result of continuous consultation.

“Working jointly with Customs on this matter has been a positive exercise, as Customs helped us resolve a number of outstanding issues from years prior to Puma Energy purchasing the business. We thank Customs for their professionalism and diligence as they helped us through this process. Through this agreement with Government, we have secured the long-term viability of the refinery, and paved the way for further investment to upgrade the facility to supply the future needs of the people and industry alike.”

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