sex hikayeleri interior desing escort fethiye escort denizli porno hikaye kredi kartı borç sorgulama sitesi yayında ziraatbank borç sorgulama
FIJI NEWS
October 07, 2012 12:00:00 AM
  Follow @ Twitter

Fiji's current tax regime with low tax rate is very attractive to investors and is building their confidence back into our economy, says the Fiji Revenue and Customs Authority.

FRCA National Manager Policy and Research, Fazrul Rahman in his presentation at the second session of the Fiji Economy Update in Nadi said their emphais has always been solid compliance and over the last 10 years and a
series of tax compliance were brought to the Income Tax Act such as new anti- avoidance provision, introduction of departure prohibition order, temporary closure of business and tightening the provisions on Garnishee order.

“Now that the 2012 Budget tax policy reform has reduced the tax rates in large magnitude, FRCA is promoting a culture of voluntary compliance."

"Fiji’s tax regime was very attractive with low tax rate although it had followed a trend of reducing tax of income and increase VAT between 1997 to 2012 period.

“The 2012 Fijian Budget has positioned the country as an attractive tax regime. The expansionary fiscal policy in the form of tax cuts in the Budget is achieving the objective of building confidence and raising investment,” Rahman said.

Quoting the Reserve Bank of Fiji’s August 2012 Economic Review, he said the investment to GDP ratio for 2012 was projected to be 18 per cent compared to the 16 per cent seen in 2011.

“The 2012 Budget has also retained the level playing field for local and foreign businesses as created such alignment between different types of taxpayers."

“By virtue of tax rates being reduced to 20 per cent for individual and businesses, it has ensured that irrespective of which form business ownership takes place, the tax rate is same," he concluded.

By Reginald Chandar

 

Red Dress


PREVIOUS STORY
FRCA warns of Illicit tobacco trade
NEXT STORY
Be part of Fiji Day fun and fiesta, Govt urges

Post a Comment
Bookmark and Share

 


Posted Comments
No comments, but you can post the first comment!
   





Do you think enough is being done to address child sexual offences in Fiji?
 Yes
 No


Poll Results: Current | Previous

Do you think enough is being done to address child sexual offences in Fiji?
Yes
 0%
No
 100%



More Polls
Press Esc to close this window
BUSINESS
SPSE targets land owning unitsThe iTaukei Land Trust Board (TLTB) and South Pacific Stock Exchange (SPSE) today signed a three-year Memorandum of Understanding to attract landowners to participate and invest in Fiji’s stock market.
SPORTS
IOC Diplomas for Fiji 7s teamsFiji’s Men’s and Women’s Sevens Rugby teams have been presented with International Olympic Committee (IOC) Diplomas.
WORLD
Hayne appointed Global AmbassadorFormer NRL and NFL star Jarryd Hayne has been announced as a global ambassador for Fiji’s national carrier Fiji Airways.
TECHNOLOGY
Vodafone rolls out 4G+ mobile networkVodafone Fiji has rolled-out its new 4G LTE Advanced or 4G+ mobile network to its customers.
ENTERTAINMENT
Florence + The Machine to release songs from Final Fantasy XV gameThe Florence + The Machine has released a special collaboration recorded for the upcoming video game Final Fantasy XV.
FIJI NEWS
9 arrested in Lautoka drug raidNine people have been arrested in a drug raid in Tavakubu, Lautoka.
NEWS SPORTS INFOTAINMENT MOBILE HOT TOPICS FOLLOW US ON