Business

Fiji joins global effort to combat tax avoidance

June 3, 2024 5:35 am

[File Photo]

Fiji is now part of the Group of Twenty Organizations for Economic Co-operation and Development Inclusive Framework on Base Erosion and Profit Shifting.

The Fiji Revenue and Customs Service says this is a global initiative to fight tax avoidance and ensure fair tax practices.

It says this move aligns Fiji with 146 countries working together to promote tax transparency and equity.

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FRCS CEO Udit Singh says joining the Inclusive Framework helps Fiji improve its international tax reputation.

Singh, speaking virtually to the OECD conference, emphasized that Fiji’s membership will give the country a stronger voice in global tax discussions and support its national goal of combating tax avoidance.

He adds that this step equips Fiji with better tools to ensure profits are taxed where earned, fostering a fairer and more transparent tax system.

He says that as a member of the Inclusive Framework, Fiji is committed to addressing the tax challenges arising from the economy’s digitalization.