The Fiji Islands Revenue and Customs Authority is working with the Finance Ministry to work out the new income tax threshold and the new duties that will be charged on certain food items from next month.
FIRCA Chief Executive, Jitoko Tikolevu said they are also working on a promulgation which will be forwarded to cabinet soon.
Tikolevu said as announced by the Interim Cabinet last month, duties on certain basic items will be scrapped from 1st June.
Cabinet approved in April that the Income Tax threshold will be increased from $9,000 to $15,000. This means that from June 1st anyone earning $15,000 or less will not pay any income tax.
Apart from the increase in the income tax threshold, there will also be a reduction on selected basic food items to a new duty rate of zero percent.
Food items that will have zero duty from 1st of June include white rice, brown rice, tinned fish including sardines, tuna and mackerel, other canned fish and cooking oil. Consumers will not have to pay any duty on these items from next month. VAT will also be scrapped on locally produced eggs.
FIRCA Work on New income Tax Threshold
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