The Internal Revenue Commission (IRC) of Papua New Guinea (PNG) has extended the deadline for the grace period for taxpayers, especially business owners who have yet to make their tax returns, to do so quickly or face consequences. This week, the IRC sent out word to those business owners who have yet to lodge in their tax returns to the State, that they have until November 29th to do so or face deregistration. A tax return is a form filed with a tax authority (in this case the IRC) on which a taxpayer states their income, expenses, and other tax information including how much they have earned in a year. This so to inform the tax authority on the status of taxes being submitted by taxpayers in a financial year. Following that grace period public notice, the IRC on Friday 25th October stated that about 388 taxpayers responded to it, and that number is expected to grow as the IRC continues to do more awareness both on traditional and digital media channels and in person. So far, 16 provinces have seen business houses lodged in their tax returns. They include: · Jiwaka leading with 117, · West New Britian with 58, · Western with 52, · Morobe with 50, · National Capital District with 40, · East New Britain with 35, · Autonomous Region of Bougainville with 9, · New Ireland with 8, · Enga with 8, · East Sepik with 7, · Eastern Highlands with 6, · Western Highlands with 6, · Madang with 3, · Southern Highlands with 3, · West Sepik with 2, and · Simbu with 1. Provinces not listed currently have zero responses. The IRC also advised that taxpayers lodging returns are not required to submit Investment Promotion Authority (IPA) documents, and provinces without processing powers should complete the survey form, assist taxpayers as usual, and send the necessary documents to their designated processing centers. Also, Taxpayer Identification Number (TIN) holders who regularly file returns will not be affected and TIN registered from 2022 onwards are exempted.