Fiji is the hub of the South Pacific and one of the best places to invest; offering a strategic location, business-friendly policies, low taxation, and other advantages.
- Investment allowance (in addition to ordinary depreciation) of 55% of total capital expenditure is allowed as a deduction provided there is no shift of tax revenue to other countries.
- Applicable to building of new hotel including renovations or refurbishments or extensions of existing hotel and International Retiree Facilities.
- 150 % deduction for capital expenditure on an F1 audio-visual production.
- 125% deduction for capital expenditure on an F2 audio-visual production.
- The income of any new activity in commercial agricultural farming and agro-processing approved and established from 1 January 2010 to 31 December 2014 shall be exempt from tax for 10 consecutive fiscal years with a capital investment of $2,000,000 or more.
- 100% of the amount of investment as a deduction for investing in food processing as well as forestry.
- 5 year tax holiday is available to a taxpayer undertaking a new activity in renewable energy projects and power cogeneration.
- Duty free importation of renewable energy goods.
Income tax exemption is available to ICT investors under the following criteria:
- Business employs 50 employees
- 60% of its total services exported
- Available to newly incorporated entity established in the following areas:
- Vanua Levu – included Taveuni, Rabi, Kioa, and other northern islands.
- Rotuma, Kadavu, Levuka, Lomaiviti and Lau.
- The minimum level of investment should be $250,000.
- Tax and duty exemption are also available should you wish to set up your operations in one of these tax free areas.
- Is open to citizens of other countries recognized by Fiji in the “Fiji My Second Home Programme” as administered by the Reserve Bank of Fiji.
- If age below 50 – minimum deposit of $150,000 and maintain the deposit in Fiji for a minimum of two years.
- If age above 50 – minimum deposit of $100,000 and maintain the deposit in Fiji for a minimum of two years.
- To qualify the applicant must maintain a minimum balance of $50,000 from the 3rd year onwards and throughout the stay in Fiji.
Interest income is exempt from tax which accrues to or in favor of a non-resident including former Fiji residents who hold funds in Fiji commercial bank accounts under the following criteria:
- For foreign currency accounts, interest income for deposit above the equivalent of FJD$150,000;
- For Fiji Dollar accounts, any amount of interest income.
- Employment Taxation Scheme 0 150% of the salary and wages paid within 1 January 1997 and 31 December 2012 are tax deductible. The deduction is restricted to salary and wages paid in respect of 12-month period commencing from the date of the appointment of the employee provided he or she has not previously been in full-time paid employment.
- Corporate Tax Rate 20%.
- The marginal income tax rate for lower band reduced to 7%; the rate for middle income tax band reduced to 18%, and the income tax marginal rate for the top band reduced to 20% in line with the corporate tax rate.