On the eve of the 2010 National Budget announcement, the Fiji Employers Federation said the withholding tax imposed on overseas based companies is a major deterrent for investors.
The with-holding tax, which currently stands at 15 percent, is paid by expatriate companies and is a means of retaining some of their profits before it is moved off-shore.
According to FEF President Digby Bossely, this tax measure has seen interested investors take their business elsewhere.
Bossely said they are hoping the with-holding tax is reduced as they believe that foreign investors are being double taxed.
The Employers Federation is also hoping that government announces further reduction in the Corporate Tax which currently stands at 29 percent.
Remove withholding tax urges Employers Federation
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