The Fiji Revenue and Customs Service (FRCS) has reaped a historic $3.510 billion in net revenue for the financial year ending July 31, 2026, marking the highest annual collection in the institution’s history.
The result is $136.2 million (4.0 per cent) above the Government’s annual forecast of $3.374b; and $25.8m (0.7 per cent) higher than the $3.485b collected in the previous financial year.
According to the FRCS, growth was led by net income tax, which increased by $53.7m, net customs collection that increased by $46.6m, and departure tax that increased by $43.7m.
Within those categories, PAYE increased by $37.9m and company tax rose by $28.3m – those results point to continued resilience in formal employment, wages, and business profitability.
The FRCS has also noted that fiscal duty, domestic excise duty, withholding tax and import excise duty recorded positive annual growth.
FRCS chief executive officer Udit Singh said the results demonstrated the resilience of the country’s economy despite geopolitical uncertainty, international fuel-supply pressures, imported inflation and softer expectations for tourism and consumer activity.
“This record result reflects the strength of Fiji’s underlying business and employment base,” Mr Singh said.
“Businesses continued to operate and contribute, employers-maintained jobs and wages, trade remained active, and taxpayers continued to support the country despite a challenging economic environment.”
Meanwhile, net VAT declined by $102.8m compared with the previous year, principally reflecting the reduction in the VAT rate from 15 per cent to 12.5 per cent, together with refund and payment-timing effects.
However, Mr Singh said the decline should not be interpreted as an equivalent reduction in underlying economic activity.
The July collection was $288.8m, which was $16.6m below forecast and $22.3m below July 2025.
Mr Singh said the softer monthly result was influenced by the timing of company income tax returns and higher refunds.
“Nevertheless, the strong performance over the preceding 11 months enabled FRCS to finish the year well above its annual forecast.
“We should view this achievement with confidence but not complacency.
“The economic risks remain real by the breath of the revenue result shows that Fiji enters the new financial year with a resilient economic and fiscal foundation.”
Mr Singh acknowledged the taxpayers, businesses, employers, importers and exports, customs brokers and tax agents.
“This achievement belongs first and foremost to Fiji’s taxpayers.
“Every dollar collected supports essential public services, including healthcare, education, infrastructure, social assistance and border protection.
“I also thank the FRCS board for its leadership and governance, our staff for their professionalism and commitment, and the Government, Ministry of Finance, Reserve Bank of Fiji and our partner agencies for their continued cooperation and support.”
