FRCS Press Release
Resident individuals are required to make proper declarations to the Fiji Revenue & Customs Service(FRCS) for all sources of income derived in a tax year. Whether the Income is sourced in Fiji or outside Fiji, it is important for resident individuals to understand what the tax laws require when it comes to declaration of income. This week, we will discuss on who is a resident individual for tax purpose and what is required to ensure that they are compliant with the tax laws. Importance of Determining Residency Status
The residency test enables the tax office to correctly determine the basis at which the individual’s income is treated and the income tax rates applicable. This means that the tax office cannot make an assessment without having to firstly establish the individual’s residency status.
Click below to download full report