There are currently no intentions to raise corporate income tax or personal income tax to fund the National Development Plan (NDP) for 2025-2029. This was emphasized by Deputy Prime Minister Professor Biman Prasad during a panel discussion regarding the NDP at the University of the South Pacific in Suva on Tuesday.
In response to a question from the audience, Professor Prasad pointed out that personal income tax rates in Fiji are among the lowest globally. He acknowledged the ongoing economic adjustment following the COVID-19 pandemic and stressed the importance of maintaining stable income tax rates.
“We have kept the personal income tax as is; we do not foresee any changes at this time because we understand that individuals are still adapting to the economic impacts of COVID-19 in terms of earning a stable income,” Professor Prasad stated.
He confirmed that there are no plans to alter the tax threshold or personal income tax rates. “When we assumed government, we committed to being open and transparent regarding our tax policies. Prior to announcing any tax changes in the last budget of 2023, we discussed potential adjustments with the fiscal review committee, weighing various arguments for and against visitor corporate tax. However, there is nothing on the agenda to increase it further.”