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Market Lending Rate for Discounted Interest Loan Fringe Benefit

We would like to inform all employers who are registered for the purpose of Fringe Benefits Tax (FBT) that the 2024 Market Lending Rate to calculate the Discounted Interest Loan Fringe Benefit value is 6.05 percent.

This 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 FBT purposes.

Should you require further clarification please contact Mr. Rajesh Bhan – Assistant Manager Enforcement/Inspection on 3243584 or rbhan@frcs.org.fj or  Mr. Keshwa Mani – Manager Enforcement/ Inspection on 3243915 or kmani@frcs.org.fj.

Click on this link for PDF version Market Lending Rate – Final

Mr. Malakai Naiyaga

ACTING CHIEF EXECUTIVE OFFICER

6th February 2024

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