- Laws of Fiji

Last Updated: 1 August 2023

[IT 16,540] Exemption from tax21

(1) If final approval is granted under this Part to a company, the income of the company is exempt from tax on profits derived from the operation of the hotel if the capital investment in the hotel is more than $7,000,000—

(a)in the case of a company that applies prior to 1 January 2017, for a period of 10 years;
(b)in the case of a company that applies on or after 1 January 2017, for a period of 4 years.

[subreg (1) renum LN 28 of 2020 reg 7, effective 1 April 2020]

(2) If final approval is granted under this Part to a company, the income of the company is exempt from tax on profits derived from the operation of the hotel if the capital investment in the hotel is—

(a)from $250,000 to $1,000,000, in the case of a company that applies on or after 1 April 2020, for a period of 5 consecutive fiscal years;
(b)from $1,000,001 to $2,000,000, in the case of a company that applies on or after 1 April 2020, for a period of 7 consecutive fiscal years;
(c)more than $2,000,000, in the case of a company that applies on or after 1 April 2020, for a period of 13 consecutive fiscal years;
(d)from $2,000,001 to $40,000,000, in the case of a company that applies on or after 1 August 2021, for a period of 13 consecutive fiscal years; and
(e)more than $40,000,000, in the case of a company that applies on or after 1 August 2021, for a period of 20 consecutive fiscal years.

[subreg (2) insrt LN 28 of 2020 reg 7, effective 1 April 2020; am LN 66 of 2020 reg 2, effective 1 April 2020; LN 82 of 2021 reg 10, effective 1 August 2021]

(3) If final approval is granted under this Part to a company that applies between 1 August 2021 and 31 December 2023 for refurbishment and renovation, the income of the company is exempt from tax on profits derived from the operation of the hotel if the capital investment in the hotel is more than $2,000,000 for a period of 5 consecutive fiscal years.

[subreg (3) insrt LN 82 of 2021 reg 10, effective 1 August 2021; am LN 20 of 2022 reg 3, effective 31 March 2022]

[reg 21 am LN 33 of 2017 reg 4, effective 1 January 2017]