Tax rate by region Fiji

Following the bill’s enactment, it’s likely that the registration procedures will stay largely the same.

For individual entrepreneurs looking to register, the necessary documents to be submitted include:

A filled-out application form for the registration of an individual entrepreneur (Form IRS001);
An additional VAT Registration Form (Form IRS018);
Proof of identity, which can be a driver’s license, foreign passport, or voter registration card.
For companies, the required documents are slightly different:

An Application for Registration of Companies, Partnerships, or Trusts (Form IRS003);
An additional VAT Registration Form (Form IRS018);
A copy of the Registration Certificate and the company’s Memorandum or Charter.

If you pay your taxes late, you’ll be fined 25% of any remaining unpaid tax. Additionally, for each month of delay, an extra 5% will be added to the balance of unpaid tax.

If you submit your taxes late, you’ll be penalized 20% of any unpaid tax. Just like with late payments, an extra 5% will be added for each month of delay on the balance of unpaid tax.

If you evade VAT, you’ll be hit with a hefty fine of 300% of the payable tax.

If you’re registered as a VAT payer and fail to reflect the new VAT rate in the prices of goods and services, you could face a fine of up to $50,000. If convicted, the fine could go up to $100,000 or you could face up to ten years in prison.

If you fail to submit a declaration within the prescribed period, additional punitive measures may be applied. These could include a court fine of up to $25,000, imprisonment for up to 10 years, or both a fine and imprisonment.