No changes to cigarette and alcohol prices tobacco, alcohol and more
The Government has announced a number of changes to its tax and fiscal policies. Cigarette and alcohol prices will not be going up.
After announcing increments in successive years, Government has announced excise duty on cigarettes and alcohol will not be changing.
Value Added Tax (VAT) will also remain the same.
In an attempt to rid Fiji of plastic bags, thin plastic bags will be banned as of January 1, 2020, and the plastic levy will increase from 20 cents to 50 cents.
Naboro has been declared a tax free zone for companies wishing to set up waste management and recycling businesses.
Tax holidays have also been announced for capital investments which span between five, seven and 13 years depending on the amount of investment.
Companies investing in warehouse and storage businesses would be given similar tax holidays.
To promote the ICT sector, a 13-year tax holiday has been announced and conditions such as license fee and number of employees to be employed have been removed.
Incentives and tax holidays will also be applicable to companies investing in pharmaceutical investments. To promote hotel investments incentive on the importation of capital equipment, plant and machinery will now be extended to include building materials, furnishings, fittings, equipment, room amenities, kitchen, dining room equipment, utensils and specialised water sports equipment.
To qualify for 150 per cent tax deduction for donations to the Sports Fund has been reduced to $15,000 from $50,000.
Government also announced tax rebate of 75 per cent from 47 per cent for making films and this depends on the amount of investment.
There is also a 200 per cent tax deduction for companies investing in camera and filming equipment for audio visual productions.
Investors developing multi-rental housing for public rental will be granted an income tax holiday