Expect to pay more for sweet biscuits, imported fruits juices, ice cream, snacks obtained by roasting, frying, baking swelling or other means and sugar confectioneries from Monday as a 40 cents per kilogram or per liter domestic excise duty or 15 percent import excise duty will be levied from January 1st.
This was announced in the 2023-2024 national budget where the Fiji Revenue and Customs Service says the Social Responsibility Tax will be incorporated into the Pay As You Earn tax structure along with a 5 percent reduction for those earning above $270,000.
FRCS says to enhance administration in the banking sector, the Resident Interest Withholding Tax exemption on interest income less than $1,000 will be removed while the exception which is available to senior citizens, pensioners, or individuals with a gross annual income of $30,000 will still be available.
They say Airport Departure Tax will be increased to $140 and the fees for applications and renewals of tax agents license will be increased where the fee for new applications will go up from $436 to $500 while renewal fee will increase from $218 to $350.
