In a bid to combat tax evasion and ensure fair tax practices, Fiji has officially joined the Group of Twenty (G20)/ Organisation for Economic Co-operation and Development (OECD) Inclusive Framework on Base Erosion and Profit Shifting (BEPS).
The Fiji Revenue and Customs Service says this move aligns Fiji with 146 countries working together to promote tax transparency and equity and helps Fiji improve its international tax reputation.
They say this enhances Fiji’s chances of being removed from the European Union's (EU) list of non-cooperative tax jurisdictions, known as the EU Blacklist.
The FRCS says with the support of the Government, they are dedicated to implementing the necessary standards and initiatives for greater tax fairness.
They say as a member of the Inclusive Framework, Fiji has also committed to addressing the tax challenges arising from the economy's digitalization.
Fiji will participate in the Two-Pillar Solution, which aims to reform international tax rules to ensure that multinational enterprises pay a fair share of tax wherever they operate.
While speaking during the OECD conference, FRCS CEO Udit Singh emphasised that Fiji's membership will give the country a stronger voice in global tax discussions and support its national goal of combating tax avoidance.
Singh says this step equips Fiji with better tools to ensure profits are taxed where earned, fostering a fairer and more transparent tax system.
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