THE Fiji Revenue and Customs Authority will waive tax penalties for 436 businesses in the Western Division who were seriously affected by the floods.
Chief executive officer Jitoko Tikolevu said his officers conducted a four-day survey in the west and consulted the chambers of commerce and individual business owners.
"We were depressed ourselves and felt for them," Mr Tikolevu said.
"FRCA has therefore decided to assist the businesses affected by the floods in the Western Division in the waiver of penalties."
Those who wish to have their penalties waived will have to apply to FRCA. The authority has waived the penalty for failure to file a tax return or lodge other documents; penalty for failure to pay tax by the due date; penalty for failure to maintain proper records and the penalty for breach of possession agreement.
Mr Tikolevu explained that full waiver of penalties were strictly for the businesses in the Western Division prior to March 2012.
Business with annual gross turnover not exceeding $300,000 gross turnover can have a full waiver of penalties for six months while those earning above this amount can have a full waiver of penalties for three months with effect from March 2012 for businesses.