FBC: Expect tax hike in certain areas, Prasad reveals

[Source: FBC News]

The Cabinet has now largely agreed to the required revenue measures to be implemented in the 2023–24 Budget.

Speaking during the Fiji Institute of Chartered Accountants Congress 2023, Finance Minister Professor Biman Prasad shared the broad direction of some of those measures.

Prasad says the government has very few choices outside of increasing Value Added Tax.

He adds that the Government needs at least $500 million in additional revenue if it is to begin to make any difference in its fiscal status.

Professor Prasad says they will be raising the main corporate tax rate, which will collect an additional $70 million a year…

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