Commercial agriculture and agro- processing

The income of any new activity in commercial agricultural farming and agro-processing approved and established on or after 1 August 2021 shall be exempt from tax as follows:

• Capital investment from FJ$100,000 toFJ$250,000 for a period of 5 consecutive fiscal years; or
• Capital investments from FJ$250,001 toFJ$1,000,000 for a period of 10 consecutive fiscal years; or
• Capital investment from FJ$1,000,001 toFJ$2,000,000 for a period of 15 consecutive fiscal years; or
• Capital investment above FJ$2,000,001 for a period of 20 consecutive fiscal years.

EXPORT INCOME DEDUCTION

A 60% export income deduction is currently available to exporters. The agriculture, fisheries and forestry businesses are further incentivised with a 90% export income deduction to support new and existing businesses to venture into agriculture exports and increase access for farm produce to international markets. This incentive is available till31 December 2025.

CUSTOMS CONCESSION

• Importation of plant, machinery and equipment for initial establishment of the factory at rates of Free Fiscal, Free Import Excise and VAT applicable.
• Importation of chemical required for bio-fuel production at rates of Free Fiscal, Free Import Excise and VAT applicable.
• The importation of all agricultural items will be subject to Zero Duty (specialised machinery, equipment and agricultural inputs provided that a support letter is obtained from the Ministry of Agriculture

LEGISLATIVE PROVISION

1. Income Tax (Commercial Agricultural Farming and Agro-Processing Business Investment Incentives) Regulations 2021.
2. Income Tax (Exempt Income) Regulations 2016, Part 9 Economic Development Exemptions.

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