Minister for Economy, Aiyaz Sayed-Khaiyum says the Business Process Outsourcing Council will be provided with a grant of $200,000 in the 2021-2022 National Budget to develop the BPO sector.
Business Process Outsourcing companies includes such as call centres and those that provide accounting services.
Sayed-Khaiyum has also announced tax incentives for the industry where new investments exceeding $10 million in infrastructure that supports Business Process Outsourcing will be offered a 20-year tax holiday.
A 10 year and 15 year tax holiday will also be available for investments between $2 million to $5 million and $5 million to $10 million, respectively.
He says customs duty exemptions will also be provided as part of this incentive package.
The Minister says this investment package will be extended to investors that derive 90% of income from an ICT business.
He says if the investor is also involved in developing strata titles and selling them to Information and communications technology or BPO operators, the sale proceeds will also be exempt from income taxes.
Sayed-Khaiyum adds the remote work revolution can come to Fiji as Fiji has the workforce, the data accessibility, and the incentives in place to do extremely well in this industry.
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