Prime Minister James Marape has commended Parliament for its overwhelming support in passing the Income Tax Bill 2025 with a resounding vote of 79-0, describing it as a monumental step towards eradicating outdated colonial laws and establishing a fairer, more equitable taxation system for Papua New Guinea. Speaking during the parliamentary debate, PM Marape acknowledged the bill as a critical component of his government’s 'Take Back PNG' agenda. Mr. Marape praised the bipartisan support received for the bill, which he described as an essential aspect of revisiting and modernizing the fundamental architecture that holds the country together. "For 66 years, the original law governing our nation’s taxation system has been in place, having been passed by the Australian Parliament before our independence. Since then, revenue administration has been governed by this law, resulting in inadequate revenue collection. No wonder our revenue has been poor for such a long time,” PM Marape said. He added that the passing of the Income Tax Bill 2025 is a significant move towards reasserting Papua New Guinea’s sovereignty over its economic affairs. "This new law reflects our commitment to fairness and transparency. It secures our people's economic future by clarifying the taxation process, especially for our rural communities and first-time homebuyers," he stated. The Prime Minister emphasized that the bill addresses several critical areas, including revenue collection, price transfers, capital gains, and depreciation. He noted that the previous legislation allowed for ambiguities and loopholes that foreign companies exploited to the detriment of Papua New Guinea’s revenue base.