Fiji Economy Ministry Submits Various Bills to Implement Tax Measures Under 2024-2025 Budget

The Fijian Ministry of Economy June 28 submitted to Parliament Bill Nos. 7-16, to implement tax measures under the 2024-2025 budget. The bills include measures to: 1) impose a penalty for VAT evasion, such as for providing false or misleading statements, of 200 percent of the deficient tax; 2) set the export income deduction for tax year 2025, revise fringe benefits tax (FBT) quarterly rates for motor vehicles, and set quarterly rates for electric vehicles (EVs); 3) transition taxpayers to only quarterly or monthly VAT filing, and allow for the imposition of VAT on items imported for personal use; 4) ...