FHL to upgrade properties
July 6, 2018 7:20 pm
The Fijian Holdings Limited will soon start maintenance work at Ratu Sukuna House which is estimated to cost a little over one point two million dollars.
Chief Executive Nouzab Fareed says the Group is taking advantage of the tax incentives announced by the Government in the 2018/2019 National budget which will come into effect in the next financial year.
The incentive is such whereby, any capital investment of one million dollars or more, is exempted from a 125% tax deduction and an additional 25% investment allowance for modernization of buildings in towns and cities.
The incentives are available for buildings that are five years or older.
Fareed says FHL through its subsidiary owns 3 buildings in Suva out of which two properties need major exterior revamp, to be more attractive and give the city a modernised look.
Fareed also acknowledges the government for this policy as it will assist in modernizing Fiji’s cities.