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New 15pc levy

Ropate Valemei
Monday, December 31, 2012

ALL offshore payments for commercial services irrespective of the amount to be remitted will be subject to Non-Resident Miscellaneous Withholding Tax.

Fiji Revenue and Customs Authority (FRCA) have announced the 15 per cent Non-Resident Miscellaneous Withholding Tax in accordance with Section 8A of the Income Tax Act.

FRCA chief executive officer Jitoko Tikolevu said it would be effective from tomorrow.

"All financial instructions and all money exchange dealers are also hereby advised that prior to any remittances for commercial services, tax clearance from FRCA is a requirement irrespective of the amount," Mr Tikolevu said.

He said it would be paid in respect of the hire or rent of films whether by way of purchase or long term hire; or any know-how payment and any sum paid or credited for the management of, or supervision of, or the supply of any similar activity in connection with the carrying on of a business.

The listing of commercial services include charges, fees and services of royalty and commission, patents, copyright, brokerage and other charges to agents and representatives outside Fiji, movie/film hire, news service, repair, domestic air/shipping, other technical, professional and management fees. For deposits into Fijian dollars external accounts, it includes salaries and wages from employment in Fiji, interest payable on the account, income from rental/directors fees/gratuity, capital gains tax certificate; signed sale and purchase agreement, original Form B application; rental agreement and letter from the company authorising payment of gratuity. Mr Tikolevu said the tax clearance would be done on the same day provided all relevant documentary evidences were attached.





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