Fiji Time: 11:20 PM on Saturday 22 November

Fiji Times Logo

/ Front page / Business

Record tax cuts

Ropate Valemei
Wednesday, November 21, 2012

GOVERNMENT had made historic reductions to all tax rates in the 2012 budget.

This was revealed by the Prime Minister Commodore Voreqe Bainimarama at the Fiji Revenue and Customs Authority Gold Card launch yesterday at Nasese, in Suva. "The reduction in personal tax rates redirected $53.1 million into the pockets of taxpaying Fijians," he said.

Commodore Bainimarama said they reduced tax rates for 99 per cent of the individual taxpaying population, and they had also reduced customs duty on items our economy need in order to grow.

"The reduction of the corporate tax rate from 28 per cent to 20 per cent basically means that businesses in Fiji have more money to reinvest in plant, equipment, and hiring. With the lowest corporate tax rates in the region, including Australia and New Zealand, there is no excuse not to pay your taxes."

He said government had done its part to ensure that the tax contributions of Fijians were reasonable. "We have acted with prudence, sensitivity, and good economic sense," he said.





Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Today's Most Read Stories

  1. Biman: Budget boring
  2. Nine retained
  3. Biggest share
  4. Dragon's embrace
  5. Blind faces 'long' lay-off
  6. Free education extended
  7. Biggest pie goes to FRA
  8. Tonga to forge new partnership
  9. Pacific Islands and China
  10. Fijian connection to spark Wallabies try-scoring spree

Top Stories this Week

  1. Tourist's death: Murder accused to appear in court Monday (17 Nov)
  2. Stabbed to death Tuesday (18 Nov)
  3. Lover's alibi Sunday (16 Nov)
  4. Prime Minister Modi arrives in Fiji Wednesday (19 Nov)
  5. Kill victim cried for help Tuesday (18 Nov)
  6. The man behind the scene Monday (17 Nov)
  7. Bula Mr Modi Wednesday (19 Nov)
  8. Man found unconscious, dies in hospital Monday (17 Nov)
  9. Modi-fied Thursday (20 Nov)
  10. Modi announces visa on arrival for Fiji people Wednesday (19 Nov)