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CUSTOMER SERVICE UPDATE – 2023-2024 National Budget-Corporate Income Tax Changes

FRCS wishes to advise that as announced in the 2023-2024

National Budget, the increase in the corporate income tax rate is effective from 1st August 2023.

The new rates are as follows:

  • Companies listed on the South Pacific Stock Exchange and eligible for a reduced tax rate – 15%.
  • Other companies – 25%.

This change is effective from tax year 2023.

The table below includes the relevant dates in each 12-month period of the 2023 tax year.

 

Start date

End date

2023 tax return and corporate tax due date

01/08/2022

31/07/2023

31/10/2023

01/09/2022

31/08/2023

30/11/2023

01/10/2022

30/09/2023

31/12/2023

01/11/2022

31/10/2023

31/01/2024

01/12/2022

30/11/2023

29/02/2024

01/01/2023

31/12/2023

31/03/2024

01/02/2023

31/01/2024

30/04/2024

01/03/2023

29/02/2024

31/05/2024

01/04/2023

31/03/2024

30/06/2024

01/05/2023

30/04/2024

31/07/2024

01/06/2023

31/05/2024

31/08/2024

01/07/2023

30/06/2024

30/09/2024

 

Requests for an extension of time to pay the 2023 tax payable or for penalty review will be processed through the Taxpayer Online

Service (TPOS).

For more information or assistance, please call us on 3243000 or 1326 or email info@frcs.org.fj

To download the notice click on this link.

 

Mr. Malakai Naiyaga

ACTING CHIEF EXECUTIVE OFFICER

2nd August 2023

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