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One off spike in tax payment: Prasad

Deputy Prime Minister and Minister for Finance Professor Biman Prasad says Fiji’s personal income tax structure is progressive which means that the higher the income of the person the higher the income tax.

Prof Prasad said all individuals above an annual income of $30,000 are liable to pay income taxes in Fiji.

In a statement, Prof Prasad following the increase in salary of several civil servants in the last few weeks, including teachers, individuals would have noted a one-off spike in the tax payment for the first pay after the salary increment.

However, he said the income tax deduction would be reduced from the subsequent pay and the payroll system would ensure that the tax payment for the entire 12-month payroll period is exactly what an individual should pay based on his/her annual salary and the current PAYE tax schedule.

“The Ministry of Finance wishes to assure all civil servants that this is in line with standard PAYE calculations set by the Fiji Revenue and Customs Service. The government will always ensure that the right amount of tax is deducted for its staff, nothing more or nothing less, although there will be some monthly fluctuations when salary increments are made in the middle of the fiscal year,” the Deputy Prime Minister said.

Ilaitia Ravuwai
Ilaitia Ravuwai
Journalist | news@fijilive.com

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