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Market Lending Rate for Discounted Interest Loan Fringe Benefit

We would like to inform employers who are registered for Fringe Benefits Tax (FBT) that the 2023 Market Lending Rate to calculate the Discounted Interest Loan Fringe Benefit value is 6.29 percent.

The rate has been determined in consultation with the Reserve Bank of Fiji (RBF) as required under section 76 (3) of the Income Tax Act (Act No. 32 of 2015) and is the weighted average market lending rate.

All employers are required to use the above rate for Fringe Benefit Tax purposes.

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For further information, please email us at info@frcs.org.fj or contact Mr. Dhineshwaran Gounder at3243503 or Mr. Rajesh Bhan at 3243584.

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