The Fiji Islands Revenue and Customs Authority has recorded an increase in the net tax revenue collection for last year compared to 2007.
The Chairman of FIRCA Board Peceli Vocea said the total revenue collection for 2008 totaled $1244.5 million surpassing the 2007 level by $10 million however this figure is slightly below the projected revenue by $3 million. The net Income Tax collection for 2008 has been $432.8million.
Vocea said the Board was satisfied with the figures as it reflects the number of policy measures announced by the Interim Government last year to assist low income earners.
He said the positive performance is mainly attributed to collection from corporate tax, withholding and dividend tax and provisional tax. However Vocea said the PAYE collection declined due to the increase in the tax threshold from $9,000 to $15,000 last year.
Vocea said last year was a very challenging year however the Board is satisfied with the achievements.
FIRCA Records Increase In Net Tax Revenue
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