Fiji’s revenue collection has shown remarkable strength in the first half of the 2024-2025 fiscal year, with the Fiji Revenue and Customs Service (FRCS) reporting net revenues of $1.81 billion. This figure not only surpassed projections by $136 million, or 8.2 percent, but also exceeded the net collections for the same period last year by $262 million, marking a substantial 16.9 percent increase.
FRCS Chief Executive Officer Udit Singh noted that consistent monthly revenue growth played a crucial role in this achievement, as the organization consistently outperformed its forecasts. Key contributors to this growth included value-added tax (VAT) collections of $837 million, accounting for 46.4 percent of total revenues, followed by income tax at $518 million and trade taxes at $310 million.
Singh attributed this positive performance to ongoing economic expansion, particularly within the tourism and telecommunications sectors, which have significantly invigorated revenue collections. Increased business turnover and consumer demand have also driven higher income tax and VAT payments, respectively.
He emphasized the dedication of FRCS staff, cooperation from taxpayers, and the overall growth momentum of Fiji’s economy as instrumental to these impressive results. Looking ahead, Singh affirmed that the FRCS is focused on building upon this success by enhancing service delivery, strengthening compliance, and engaging taxpayers to secure a strong revenue base for national development.
With strong consumer spending and sustained business growth, the FRCS anticipates continued robust revenue performance for the rest of the fiscal year. This bodes well for Fiji’s economic future, creating a hopeful outlook for further advancements and the overall well-being of the nation.
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