The Fiji Revenue and Customs Service is optimistic about achieving its revenue collection target of over $3 billion for the 2023/2024 financial year.

FRCS Chief Executive Udit Singh says they have been working diligently to meet the target.

“It’s been a target which has been set by the government and FRCS and we are very close to meeting that target. We would like to think we will meet that target and everything in equal we would like to think that we will meet it. “

Singh adds that the growth of micro, small, and medium enterprises is also expected to play a crucial role in expanding the tax base.

“Our tax base has been growing between five to 10 percent every year, we are firmly certain that $3 billion tax revenue that we are trying to achieve this year and obviously they form a portion of that and as they grow the tax revenue will grow as well.”

Finance Minister Professor Biman Prasad had earlier stated that this confidence stems from the strong performance of the Fijian economy, which is projected to grow at around three percent.

Prasad had also stated that out of the additional $3million in taxes that they projected to collect, around $45million will be additional collection from departure taxes while the major chunk will be due to the bigger economic pie as the Fijian economy.