Fiji Tax Agency Releases Draft 2020 VAT Overhaul Bill

The Fijian Revenue and Customs Authority Nov. 24 posted online the draft 2020 VAT Act, which would replace the 1991 VAT Act. The draft bill includes measures to: 1) impose a 9 percent standard VAT rate, unless a taxable supply is zero-rated; 2) establish anti-avoidance rules; 3) set the criteria for compulsory and voluntary VAT registration, including cancellation of the registration; 4) establish rules for mixed supplies and the supply of goods or services, including through the electronic marketplace; 5) allow input credits and set carry-forward rules; 6) provide VAT adjustments, including for bad debts; 7) implement rules for the ...