Taxation & Stamp Duty

Corporate tax

Effective 1 January 2005 corporate tax for most resident and non-resident companies is 31%.

Personal tax

Effective 1 January 2005 the top marginal personal tax rate is 31%, taking effect at assessable income levels above F$20,000.

Dividends

Effective 1 January 2005 dividends paid out of fully taxed corporate income are treated as fully exempt. Different rates apply where relevant corporate income was not fully taxed.

Withholding tax on dividends, interest, royalties and management fees paid to non-residents

This applies at rates varying between 10% and 20% depending on the nature of the payment.

Value Added Tax (VAT)

VAT is charged on supplies of goods and services at the rate of 12.5%. Certain supplies are exempt. Other supplies, including those in the nature of exports, are zero-rated. Fiji's Value Added Tax Decree 1991 is similar, but not identical, to New Zealand's Goods and Services (GST) legislation. VAT is payable on imports at the rate of 12.5%.

Customs and excise duties

Most imported and some domestically manufactured goods are subject to these duties. Charged goods fall into one of six duty bands ranging between 3% and 27%. Further simplification of the system is an avowed Government aim.

Stamp Duty

This is charged on a range of written instruments mainly transfers and leases of land, finance and security documents. Transfer duty is charged at the rate of 2% on real property transactions and 1% on security documents.

Double Tax Agreements

Fiji has entered into Double Tax Agreements with the following states:

•       United Kingdom
•       Australia   
•       New Zealand  
•       Japan   
•       South Korea   
•       Malaysia   
•       Papua New Guinea
•       Singapore