Fiji Economy Ministry Announces Tax Measures Under 2024-2025 Budget

The Fijian Ministry of Economy June 28 announced tax measures under the 2024-2025 budget. The budget includes measures to: 1) revert advance tax payment schedules for companies and businesses to pre-pandemic norms, from tax year 2025; 2) expand the Short-Life Investment Package (SLIP) 20-year tax holiday to companies acquiring and refurbishing existing hotels with investments exceeding 50 million Fijian dollars (US$22.3 million); 3) eliminate the offset of business losses of up to 20,000 dollars (US$8,930) against employment income, from tax year 2024; 4) revise fringe benefits tax (FBT) quarterly rates for motor vehicles and set quarterly rates for electric vehicles ...