To improve service delivery to customers, the Fiji Revenue and Customs Service (FRCS), in consultation with the Reserve Bank of Fiji (RBF), has increased the financial limit for obtaining tax clearance from $10,000 to $20,000 effective from 6th October 2023.
FRCS says this excludes payment for services of any amount.
They say individuals and businesses will not require Tax Clearance Certificate (TCC) for remittances (except for service payments) that are valued at less than $20,000.
FRCS Acting Chief Executive Officer Malakai Naiyaga attributed the increased financial limit of $20,000 as a positive initiative that will really benefit banks, businesses, and individuals as it will significantly reduce the number of small transactions requiring TCC.
Naiyaga says this transition will also improve efficiency and ease of doing business in Fiji.
According to FRCS, the following are exempt from tax clearance:
1. Education funds paid to educational institutions for student’s fees.
2. Payments made for medical bills.
3. Import payments:
• Goods already landed and cleared by FRCS (inclusive of freight and insurance for shipment).
• Prepayment of term bills for goods already landed and cleared by FRCS.
• 3rd Party payments for goods landed and cleared by FRCS.
4. Merchanted goods – payments of goods which are facilitated via Fiji for other Pacific Island countries.
5. Payments for imports of fuel/oil and lubricants.
The CEO says they wish to inform customers that we will continue to work closely with other agencies in the review of their operational policies and practices to bring in more efficiency and improvements in their service delivery as per their strategic objective.
Stay tuned for the latest news on our radio stations
