News

FRCS achieves record revenue

May 8, 2025 12:18 pm

The Fiji Revenue and Customs Service’s total revenue collection from August 2024 to March 2025 stands at $2.281 billion, representing 69% of the targeted $3.298 billion.

FRCS Chair Malakai Naiyaga says that they have surpassed the cumulative forecast by $138.9 million, compared to the same period last year, when $1.967 billion was collected, falling short of the forecast by $82.8 million.

Naiyaga adds that consistent monthly revenue growth has played a key role in maintaining a positive variance against the monthly forecast.

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The boost in collection is attributed to the favorable cumulative collection of key tax types such as Value Added Tax, which contributed $1 billion or 45% towards the total collection so far; income taxes contributed $670 million or 29%; trade taxes contributed $391.8 million or 17%; and other taxes and levies contributed $181.3 million or 8% of the tax mix.”

Naiyaga says that the increase was supported by strong performances in key sectors such as tourism and other resource-based industries, which had spillover effects on the wider economy.

He emphasizes that the taxes paid by citizens are crucial for funding public services, promoting economic growth, and ensuring social stability.

These revenues help support vital programs such as poverty reduction, infrastructure development, healthcare, and education.

In recognition of the importance of taxation in Fiji, the Fiji Revenue and Customs Service has declared May 8th as the official date to highlight its significance, with this year’s theme being:

Empowering Sustainable Growth through Fair and Collaborative Taxation.”

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