Need for simple, easy tax system

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FIJI needs a taxation system that is simple, easily managed and easy to administer.

This, according to the newly appointed Minister for External Trade Cooperatives and SMEs, Manoa Kamikamica.

On Monday, Mr Kamikamica met with his ministry staff members and Fijian trade commissioners in Australia, China and the US to discuss the way forward to growing Fiji’s economy post-COVID.

In its manifesto, PA had also called for increased company taxes, however, Mr Kamikamica said this would be subject to review.

“The PA, NFP and SODELPA coalition is committed to a full taxation review. So I suspect we will wait until that is done before we start increasing taxes because you have to be mindful of any tax increase, particularly in a recovering economy,” he said.

Mr Kamikamica said this needed to be understood before it was implemented.

“When an economy is sort of on the rise, when you impose taxes prematurely, you can dampen that investment, or growth opportunity, so yes, we did have increased taxes in the manifesto, but like any smart and wise government, we’ll have a look at the overall taxation system and then decide how we look at taxation.

“The plan is to have a fiscal review. The last one was done in 2006, so some time ago. We need to, just again, have a look at the taxation structure of the country and try and develop a taxation system that’s simple, that’s easily managed and easy to administer.

“That will come in time. I know we had promised putting some taxes in our manifesto, but that’s not going to happen straightaway. That’s going to happen once we do a full review of taxation in Fiji.”