FRCS at the Real Estate Agents Licensing Board Talanoa Sessions

Our Senior Manager, Taxpayer Education Mr. Vilimone Nailotei, informed the members of the REALB of their obligations and requirements under the tax laws.

Mr. Nailotei provided a comprehensive presentation to the real estate agents on business registration and tax obligations whereby he explained in detail the online registration process for the Taxpayer Identification Number (TIN) and applicable taxes, declaration of income, payment of taxes and record keeping.

A real estate agent who collects commercial or residential property rent for its client is required to submit an annual report that provides information of all rental income received by the real estate agent on behalf of its clients by 28th of February of every year. The rental annual report can be submitted on our Taxpayer Online Service (TPOS) with the following required information:

 TIN of Landlord (clients)

 Type of Property (either Commercial or Residential)

 Address of the Rental property

 Gross Rent (total annual rent)

 Net Rent (total rent after deduction e.g. real estate commission).

Further information on this can be accessed through our user guide – https://www.frcs.org.fj/…/FRCS_Rental-Annual-Report….

Mr. Nailotei also informed the attendees of the due dates for filing and payment of taxes and the importance of keeping their business records.

The talanoa sessions were very interactive where our team responded to all queries the real estate agents had on their required obligations.