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.

For the 2020 – 2021 Fijian Government Financial Year, the following direct tax incentives were announced:

  1. Social Responsibility Tax (“SRT”) and Environment & Climate Adaptation Levy (“ECAL”);
  2. Advance Payment of Tax;
  3. Debt Forgiveness;
  4. Thin Capitalization;
  5. Depreciation Write off – Initiative;
  6. Accelerated Depreciation;
  7. Tax Deduction for reduction of commercial rent;
  8. New Medical Investment Incentive;
  9. New Incentive Package for Subdivision of Lots;
  10. New Incentive Package for Private sector investment in buildings;
  11. Residential Housing Development Incentive – Development of Housing for Public Rental;
  12. Tax incentives for Corporate Bonds;
  13. FNPF Contribution;
  14. Capital Gains Tax (CGT);
  15. Income Tax Act – Section 2: Definition of Capital Asset;
  16. Fringe Benefit Tax;
  17. Non Resident Withholding Tax;
  18. Permanent Establishment;
  19. Tax deduction on loans taken for medical purposes;
  20. Corporate Reorganization;
  21. Donation to the Sports Fund;
  22. Tax deduction to hire local artists;
  23. Amendments to Tax Administration Act;
  24. Amendments to Stamp Duty Act and;
  25. Amendments to Airport Departure Tax Act.

Contact our tax team for assistance or information on these tax measures and incentives.

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