Fiji Economy Ministry Announces 2021-22 Revised Budget Measures

The Fijian Ministry of Economy March 24 announced the 2021-22 revised budget measures. The announcement includes measures that would: 1) allow a 12-month further extension of the 5-year income tax holiday regime for investments in hotel renovations and refurbishments until Dec. 31, 2023; 2) increase the VAT rate to 15 percent from 9 percent for companies with annual income exceeding 100,000 Fijian dollars (US$47,848), effective April 1; 3) establish a zero percent VAT rate for specified products, effective April 1; 4) allow a further extension to July 31, 2023, of the 200 percent deduction for commercial rent; 5) allow a ...