21st October 02:07 PM
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No more tax clearance needed to send over $2000 overseas
Tuesday, 12/08/2014
FRCA CEO, Jitoko Tikolevu

Parents wishing to send over $2,000 to their children studying abroad will no longer need tax clearances from the Fiji Revenue and Customs Authority from the 1st of next month.

However, the Authority has kept the limit of overseas remittance without tax clearance to be $20,000.

FRCA CEO, Jitoko Tikolevu said the decision is part of its commitment to assist Fijians and businesses by improving its systems and processes.

Tikolevu said they have listened to their customers, in particular businesses who regularly remit funds overseas and have found it difficult to come to their offices for tax clearance whenever the amount is over $2000.

He said this means that individuals and business will not require Tax Clearance certificate for remittances that are valued at less than $20,000.

Any transaction exceeding $20,000 will require a Tax Clearance certificate from FRCA.

Story by Dhanjay Deo