Corporate sponsors of the 2015 Pacific Games in Port Moresby will have a 150 per cent tax deduction.
Minister for Sports, Pacific Games and National Events Justin Tkatchenko reaffirmed this tax incentive while receiving sponsorship from two PNG Companies, MRDC and Petromin.
Mr Tkatchenko tabled the tax bill during last week’s parliament sitting. The bill was unanimously supported by all members of parliament, providing an incentive for corporate companies to get behind the government and support the Pacific Games in Port Moresby next year.
Speaking at the Mineral Resource Development Company’s K1 million sponsorship presentation last night, Minister Tkatchenko said the tax incentive is to encourage corporate companies to support the biggest event in Papua New Guinea.
He said the government is spending nearly K1.2 billion in infrastructure alone and the purpose of the tax incentive is to relieve these companies of their investment in the Pacific Games.
MRDC managing director Augustine Mano said the sponsorship of K1 million is their way of involving all Papua New Guineans at the Games.
Today, Petromin PNG Holdings chairman Sir Brown Bai announced a K1million sponsorship of the Games.
Minister Tkatchenko, who was in attendance, welcomed Petromin’s sponsorship and reminded corporate companies who are still deciding to support the Games to make use of the tax incentive.
Mr Augustine Mano and Sir Brown Bai welcomed the government’s tax deduction initiative.
Games Organising Committee Chairlady Emma Waiwai said it is good to see PNG-owned organisations like MRDC and Petromin getting behind the Games to deliver the best Pacific Games experience ever.