Fiji has been officially removed from the European Union’s tax blacklist six years after it was put there due to concerns over compliance with the EU’s international tax standards.
The move, announced by the Fiji Revenue and Customs Service (FRCS) yesterday, has been welcomed by Government who sees it as complementary to Fiji’s free trade with EU countries under the EU-Pacific Interim Economic Partnership Agreement which Fiji recently fully implemented.
“[Fiji’s] removal from the EU Blacklist enhances our international relationship, in particular with countries under the European Union Forum, as this will restore confidence with foreign investors, trading partners and major development partners,” Minister of Finance Esrom Immanuel said.
“This will further enhance our free trade with European Union countries under the EU-Pacific Interim Economic Partnership Agreement.”
FRCS chief executive officer Udit Singh said the work undertaken by the FRCS team for the removal of Fiji from the EU blacklist is commendable as it required extensive technical expertise, consistency and commitment in achieving this important milestone for Fiji.
“FRCS remains committed to maintaining compliance with international standards and will continue with reforms that maximise tax revenue collection, promote tax transparency, fairness, tax compliance and economic resilience,” Mr Singh said, acknowledging the support of Government and that of the Organisation for Economic Co-operation and Development (OECD) in ensuring the implementation of required international tax standards for the benefit of the Fijian economy.
Fiji was officially listed on the European Union’s list of non-cooperative jurisdictions for tax purposes (EU Blacklist) in March 2019 due to concerns over compliance with the EU’s international tax standards in three key areas: transparency, fair taxation, and the implementation of the Base Erosion and Profit Shifting (BEPS) minimum standards.
According to FRCS, the initiative to remove Fiji from the list formally commenced in 2023 with the joining of the BEPS inclusive framework and becoming a member of the Global Forum which is an agency of the OECD.
