Papua New Guinea Compliance Report

Regulatory Overview

Regulatory Status

Regulators have not addressed crypto; legal status ambiguous

Key Regulator(s)

**Approval/Rejection, Lack

Primary Legislation

[object Object], [object Object], [object Object], [object Object], [object Object], [object Object], [object Object], [object Object], [object Object], [object Object], [object Object]

Travel Rule

Not adopted

Tax Reporting

**PNG does not impose a general Capital Gains Tax.**. Gains from the sale of assets, including virtual assets, are generally **not taxable** unless they are considered to be:. Part of a **business operation** (e.g., regular trading, mining as a business).. Part of a **profit-making undertaking or scheme**.. If a gain is determined to fall into one of these categories, it would be treated as **ordinary income** and subject to the applicable income tax rates for individuals or corporations, rather than a separate CGT rate.

Key Facts

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