Fiji Time: 12:27 PM on Friday 27 February

Fiji Times Logo

/ Front page / News

Tax rates drop to 20pc

By ROPATE VALEMEI
Thursday, November 22, 2012

Update: 6:08PM THE 2013 Budget took significant steps in liberalising our tax system by reducing tax rates to 20 per cent, benefitting 99 per cent of individual taxpayers.

Government will raise tax threshold from $15,600 to $16,000 in 2013.

This means that the tax threshold has almost doubled in the five years since 2007, when it was $8840.

It will end the system of claimable tax allowance. Pay as You Earn taxpayers will not have to file a tax return at the end of the year.

From 2013, a 17 per cent corporate tax rate plus other incentives - will be available to any foreign company that establishes its regional or global headquarters in Fiji.

Companies that list or are listed on the South Pacific Stock Exchange will now pay a reduced corporate tax rate of 18.5 per cent.

Stamp Duty payable on mortgage will be 1.75 per cent, and 3 per cent for transfer. All new rates will come into effect from January 1, 2013.





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. Dead in early morning plunge
  2. Porn search: Fiji in top ten
  3. Chaudhry: Government's actions unfair
  4. Kaisi issue put to rest
  5. USP sheds light on non-renewal of contracts
  6. Landowners seek redress
  7. $13m exploration
  8. Savou named in U20 team
  9. Police warn motorists
  10. Cane price drops

Top Stories this Week

  1. Bonus pay Tuesday (24 Feb)
  2. The last goodbye Tuesday (24 Feb)
  3. JPs in corrupt practice Monday (23 Feb)
  4. Bainimarama: Expect the rise Monday (23 Feb)
  5. Wife's sorrow Wednesday (25 Feb)
  6. 3 walk free Thursday (26 Feb)
  7. A mother's anguish Wednesday (25 Feb)
  8. Body find shocks duo Thursday (26 Feb)
  9. Humongous sized lemon Thursday (26 Feb)
  10. Qiliho: RFMF's role is defined Wednesday (25 Feb)