With our economy moving towards the new era of development and advancement, the Fiji Revenue and Customs Services (FRCS) has now implemented Private Binding Ruling (PBR).
A PBR should take the form of legally binding advice which a taxpayer may seek from FRCS. The ruling typically binds the tax authority such that the taxpayer will ordinarily be protected from additional tax, penalties and interest when relying on the ruling issued.
Any sale of a capital asset at a profit may have both income tax and capital gains tax ramifications.
A newly built house handed over to Ms Lata by the Commissioner Northern Division (CND) Uraia Rainima. Her house was completely destroyed during TC Yasa in December last year. The incident also claimed the life of her late husband, Mr Ramesh Chand. HLB Mann Judd (FIJI) through a generous sponsorship helped construction of Ms Lata’s house
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.
The announcement of Fiji’s 2020 – 2021 Covid Response Budget on 1st August 2020, signaled the biggest ever tax cut in modern day. The Fiji Government chose to make Fiji’s tax system even more attractive and there has been very positive response from businesses and investors alike.
