The Fiji Revenue and Customs Service (FRCS) has announced that the rollout of the new Asset Declaration Framework, first unveiled in the 2025 National Budget, has been deferred until further notice.
In a statement, FRCS said the decision was made to allow more consultation and refinement.
“Implementation of the Asset Declaration Framework… has been deferred until further notice,” the agency said.
“FRCS will continue to liaise with external stakeholders and relevant parties to undertake further consultation and ensure that the framework, once implemented, is comprehensive and effective.”
FRCS stressed that the delay applies only to the new framework — not to normal tax obligations.
“This deferral does not affect statutory obligations for income tax filing. All 2025 Income Tax Returns remain due by 31 March 2026,” the statement read.
Under the broader reform package announced in the 2025 National Budget, Government planned to introduce a mandatory asset declaration regime for all registered sole traders.
Beginning with the 2025 tax year, sole traders were to be required to submit an annual declaration of assets and liabilities — alongside their income tax returns. The declaration will cover movable and immovable property, loans and financial liabilities, and all sources of income.
According to the policy outline, the regime aimed to improve transparency, reduce tax evasion and strengthen economic integrity.
