15 Feb 2008

Fiji tax collection higher than expected

11:27 am on 15 February 2008

Fiji's tax department in January collected over 59 million US dollars in net tax revenue, surpassing the forecast by 1.8 million.

Fiji Islands Revenue and Customs Authority's Jitoko Tikolevu told Fiji Live online that relative to the forecast, better collection was noted from income tax and value added tax or VAT.

Income tax collection for January exceeded the forecast by 1.6 million.

Mr Tikolevu says better than expected performance in income tax collection was attributed to positive collection from withholding and dividend and provisional taxes.

VAT, which is the largest component of revenue, recorded a net collection of 26 million US for January and surpassed the forecast by 1.5 million.

Mr Tikolevu says that in the coming months, the outlook for tax revenue collection generally remains positive.