Fiji Time: 1:59 AM on Saturday 10 October

Fiji Times Logo

/ Front page / News

Rise in VAT refunds

Geraldine Panapasa
Monday, April 07, 2014

VALUE-ADDED tax refund issued by the Fiji Revenue and Customs Authority for the first quarter of this year totalled $87.1million.

And according to FRCA CEO Jitoko Tikolevu, this was an increase of 35.1 per cent when compared with the same period last year.

"This is more than double the average growth rate of 15.9 per cent seen in the same period over the last 10 years," he said.

"In the period of rapid VAT collections, it is anticipated that the amount of VAT refund will be higher and a total of $300m has been budgeted for 2014, which is 13 per cent higher than the 2013 level."

Mr Tikolevu said outstanding VAT refunds were about $57.9m, which was slightly lower than the December records last year.

Despite this, he said, there was continuous emphasis for FRCA to reduce that amount.

"The level of tax arrears currently stands at $51.9m, which is an improvement of 14.8 per cent over the December 2013 level," he said.

"We thank our taxpayers for continuing to be compliant.

"For those that are still dodging the system, we remind you that paying taxes is your civic duty."

FRCA collected more than $171.39m from VAT, and surpassed its first quarter forecast of $161.42m.

In terms of Customs duties for the same period, FRCA collected more than $98.11m, slightly less than its forecast of $102.14m.

The taxman also collected $75.15m from other taxes, surpassing its forecast of $53.58m for the first quarter of this year.

Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Code Inward TTs Outward TTs
CAD 0.61820.5992
JPY 57.502354.5023
GBP 0.30880.3008
EUR 0.42110.4091
NZD 0.71840.6854
AUD 0.65730.6323
USD 0.47680.4598



Exchange Rate updated on 9th October 2015

Today's Most Read Stories

  1. Man jailed 14 years for raping brother's stepdaughter
  2. Ryan eyes lanky 15s forward
  3. 10 years for raping seven-year-old girl
  4. Newcomers Dreketi upsets Lautoka
  5. Retiree keeps promise to make a difference
  6. Unreasonable requests
  7. Strong economy
  8. Suva makes IDC semis
  9. Housing project for hundreds
  10. Ministry clears air on workers' ERP provisions

Top Stories this Week

  1. Rugby outcry Monday (05 Oct)
  2. Fisherman has whale of a day Tuesday (06 Oct)
  3. Family robbed, fear for lives Monday (05 Oct)
  4. Mum upset Wednesday (07 Oct)
  5. The murders and tragedies of Vatuwaqa Tuesday (06 Oct)
  6. Death classified as unnatural Thursday (08 Oct)
  7. FRCA duo sent home Wednesday (07 Oct)
  8. Sex offenders top list, taxpayers foot $15,660 per day Tuesday (06 Oct)
  9. Fiji thrash Uruguay 47-15 Wednesday (07 Oct)
  10. Ganilau a nominee Thursday (08 Oct)