ANISH CHAND Fiji Institute of Accountants Picture: https://fhta.com.fj/
The Fiji Institute of Accountants has proposed value added tax (VAT) be increased to 12.5 per cent from the present 9 per cent in the 2021-2022 National Budget.
In its submission to the Ministry of Economy, the FIA stated if VAT was increased, then the Environment and Climate Adaptation Levy (ECAL) had to be removed.
The FIA stated an increase in VAT “will provide a broader tax base coverage and increase government revenue, while simplifying the tax regime by further reducing the number of different taxes”.
“This will make compliance costs more manageable and allow businesses to focus on carrying out their business activities.”
Fiji Revenue Customs Service
Source: FRCS
This week’s Tax Talk is the continuation of the article on “Promoter Registration on the Taxpayer Online Services” published earlier.
Here we are focusing on the digital process of filing Environment and Climate Adaptation Levy (ECAL) One –off Tax Return by Promoters on the Taxpayer Online Services.
Any person promoting local and/or overseas performers or artists including musicians, bands or dance troupes, who wish to organise an event in Fiji needs to register each of these events in advance with the Fiji Revenue and Customs Service (FRCS).
If the gross revenue generated through the sales of event tickets to the Fijian public by the promoter exceeds $3 million, the promoter as the accountable person becomes liable to register and file a tax return for the purpose of Environment and Climate Adaptation Levy.