FIJI’S taxman has recorded strong revenue performance for the first half of the 2024-2025 fiscal year reporting $1.81billion in net revenue, exceeding its projections by $136million (8.2 percent).
The Fiji Revenue and Customs Service (FRCS) also confirmed surpassing its net revenue collections for the same period last year by $262m (16.9 percent).
FRCS chief executive officer Udit Singh said consistent monthly revenue growth played a key role in this achievement, maintaining a positive variance against forecasts each month.
He said this steady performance contributed to the overall half-year surplus.
Mr Singh attributed the results to the strong contributions of key tax categories – VAT-led collections at $837m (46.4 percent), followed by income tax at $518m (28.6 percent), trade taxes at $310m (17.1 percent), and other taxes and levies at $142m (7.9 percent).
He said the broader economic growth over the past six months was the major driver of revenue gains.
“Expansion in the services sector, particularly tourism, alongside increased investments in telecommunications, significantly bolstered collections,” Mr Singh said yesterday.
“Higher income tax payments reflected improved business turnover and profitability, while rising VAT collections indicated strong consumer demand.
“These impressive figures underscore the dedication of FRCS staff, the cooperation of taxpayers, and the overall positive momentum of Fiji’s economy.”
Mr Singh said the FRCS remained committed to building on this success by enhancing service delivery, strengthening compliance, and fostering taxpayer engagement to secure a robust revenue base for national development.
With strong consumer spending and sustained business growth, he said the FRCS anticipated continued solid revenue performance for the remainder of the fiscal year.