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FRCA clarifies on international freight rate

 

Jan 18, 2015 02:05:48 PM

FRCA clarifies on international freight rate Freight forwarding companies should only charge VAT at a zero rate on the actual cost of international freight services and that mark up are subject to VAT at a normal rate of 15per cent, Fiji's tax tribunal has ruled.

The ruling follows reports of a freight forwarding company claiming zero rate for international freight services including the mark up (profit /commission).

“The taxpayer was informed that they can only claim zero rate for the actual cost of international freight services and that the zero rate claim cannot extend to the mark up on the service," Fiji Revenue Customs Authority chief executive Jitoko Tikolevu said.

"Assessment was raised whereby FRCA had allowed zero rate claims for actual cost of international freight services but 15per cent VAT was charged on the mark up.

“Shipping Agents and Freight Forwarders are advised that based on this decision, zero rated claims will only be allowed on the actual cost of international freight. Any ancillary services other than the actual cost of international freight will be subject to VAT."

FijiLive

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