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FRCS Reviews Requirements for Tax Clearance

As part of its continued efforts to enhance the ease of doing business in Fiji, the Fiji Revenue and Customs Service (FRCS) in consultation with the Reserve Bank of Fiji (RBF), has announced raising the financial limit for obtaining Tax Clearances to FJ$5,000 effective from 1 June 2022. However, this excludes payment for services of any amount.

Individuals and businesses will not require Tax Clearance Certificate (TCC) for remittances that are valued less than FJ$5,000, except for service payments.

TCC is an official approval which confirms the amount cleared by FRCS to be remitted offshore for goods and services.

According to FRCS CEO Mr. Mark Dixon, this is a great example of FRCS listening to feedback from businesses and stakeholders and working towards improving the ease of doing business.

“This initiative is part of FRCS’s role in facilitating the growth of businesses and in improving tax systems and processes, which will positively benefit banks, businesses and individuals as it will significantly reduce the number of small transactions requiring TCC,” Mr. Dixon said.

“We would like to assure all taxpayers that we will continue to review our operational policies and practices to bring in more efficiency and improvement in our service delivery,” he said.

This positive transition by FRCS is a result of the trust that the Service has on the taxpayers that they will act responsibly and continue to fulfill their tax obligations.

 

 

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