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2023-2024 National Budget Policies Effective from January 1st 2024

The Fiji Revenue and Customs Service (FRCS) would like to prompt the taxpayers of the following budget policies changes that will come into effect from January 1st, 2024:

  1. The Social Responsibility Tax (SRT) will be incorporated into the Pay As You Earn (PAYE) tax structure along with a 5% reduction for those earning above $270,000. The new PAYE tax table can be accessed from https://www.frcs.org.fj/public-notice/customer-service-new-pay-as-you-earn-paye-structure/.
  1. To enhance administration in the banking sector, the Resident Interest Withholding Tax (RIWT) exemption on interest income less than $1,000 will be removed while the RIWT exception which is available to senior citizens, pensioners, or individuals with a gross annual income of $30,000 will still be available.
  1. A 40 cents per kilogram/liter domestic excise duty or 15% import excise duty will be levied on sweet biscuits, imported fruits juices, ice cream, snacks obtained by roasting, frying, baking swelling etc. and sugar confectionaries.
  1. The Airport Departure Tax (ADT) will be increased to $140.
  1. The fees for applications and renewals of tax agents license will be increased as follows:
  2. New applications: $436 to $500
  3. Renewals: $218 to $350.

For further information on 2023-2024 National Budget Revenue Policies, please Click Here.

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