Any sale of a capital asset at a profit may have both income tax and capital gains tax ramifications.
Disaster Rehabilitation And Containment Facility
The Reserve Bank of Fiji (RBF) has expanded the coverage of the Disaster Rehabilitation and Containment Facility to include any lending to micro, small and medium sized enterprises (MSMEs) and large businesses.
HLB Mann Judd (Fiji) Community Help
A newly built house handed over to Ms Lata by the Commissioner Northern Division (CND) Uraia Rainima. Her house was completely destroyed during TC Yasa in December last year. The incident also claimed the life of her late husband, Mr Ramesh Chand. HLB Mann Judd (FIJI) through a generous sponsorship helped construction of Ms Lata’s house
Fiji Budget – 2021/2022
The nation has been well awaiting for the 2021/2022 National budget to be announced by The Attorney General and Minister for Economy, Civil Service and Communications, Honorable Aiyaz Sayed Khaiyum as our economy and the people seemed to be on their knees led by the drastic impacts of COVID-19. From individuals to businesses, everyone had been expecting immense support from the government since the closure of borders and halt of Tourism Industry has brought everyone to think about their daily lives in a much different perspective as they have ever thought before. The 2021/2022 National Budget has to be the best budget announced so far with the huge support provided not only for different business sectors but at individual level as well. The policies announced by the Government will definitely ensure that the cost of doing business is greatly reduced and also the cost of living is subsidized to the level best as possible. The 2021/2022 budget has come as a biggest support ever for the nation as a whole.
Fiji Budget -Tax Highlights
As part of our services to clients we will post Budget Tax highlights as and when the Government introduces new budget measures whether by way of a full budget or mini budget. We also send out very regular newsletters on tax changes as they happen, reminders and general updates. Our Tax team are willing to answer any questions you may have in regards to tax changes which may impact your business.
An Introduction to Income Tax
Personal Income tax in Fiji is a direct tax imposed on individuals or taxpayers in respect of the taxable income or profits earned by them. Income tax in Fiji is computed at rates increasing in income bands. The tax rate increases as taxable income increases on a graduated scale.
Different scales apply to resident taxpayers and non-residents.
In addition to personal tax, FRCS imposes SRT and ACAL on incomes over a certain threshold.
Refer to our Insight for the latest Personal Tax Table for IT, SRT and ECAL for 2020 / 2021
An Introduction to Immigration Applications
We provide a range of services to assist our clients in dealing with Fiji Immigration Department. It is essential that the procedures are followed in accordance with the Department of Immigration’s processes. Failure to follow their timetable and requirements accurately will result in a protracted immigration process and experience.
An Introduction to Environmental Climate and Adaptation Levy (ECAL)
The Environment & Climate Adaptation Levy (ECAL) is a new tax introduced in alignment to Fijis recognition of the importance of safeguarding the environment and the impact the economy has had on Climate Change. It is charged at the rate of 5% on the gross annual turnover of a prescribed service.
An Introduction to Pay As You Earn (PAYE)
Pay-As-You-Earn (PAYE) is a withholding mechanism through which taxes are collected from employment income. Employers having employees must register with FRCS for PAYE from the date of employment of the first employee. Once registered, employers must submit a withholding summary. All Periodic Summaries must be filed by the last day of the month following the end of the filing period and appropriate payments made to FRCS. PAYE is legislated under the Tax Administration Act 2009.
An Introduction to Value Added Tax (VAT)
Value Added Tax (VAT) is a tax on spending that is levied on the supply of goods and services in Fiji at the rate of 9%, with effect from 1 January, 2016.
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