The Fijian budget for 2020/21 includes a number of Value Added Tax measures. These changes will come into effect on 1 August 2020. These include:
- Withdrawal of the 6% services Turnover Tax
- Due to the ongoing COVID-19 crisis, the new Monitoring System has been delayed until 2022. This a device to help record payments through retail cash registers. The VMS software which will be linked to the company’s cash register, will provide a real time data to FRCS on total company sales and the amount of VAT collected.
- House sharing VAT exemption threshold is to be scrapped – so not liability for any home renters.
- The reverse charge on non-resident supplied services is withdrawn
Whether for Fiji are anywhere around the world, VAT Calc’s in real-time global Calculator and Auditor services produce instant and accurate tax calculations into your ERP, billing, e-commerce or e-invoicing systems.