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ELECTRIC VEHICLE CHARGING STATIONDEVELOPMENT PACKAGE
This incentive is specifically designed to assist companies undertaking development of an electric vehicle charging station.
Conditions
- The project commences on or after 1 August 2016 and the project is completed within 2 years from the date of the provisional approval.
- Capital investment (Excluding the cost of land) should exceed FJ$50,000.
- Applicable to companies engaged in the construction of a publicly available electric service equipment which has an electric component assembly or cluster of component assemblies designed specifically to charge batteries within electric vehicles by permitting the transfer of electric energy to a battery or other storage device in an electric vehicle.
TAX BENEFIT
The income of any approved business is exempt from tax on profits derived from the operation of the station for a period of 7 years, given that the capital investment is above FJ$50,000.
CUSTOMS CONCESSION
Duty concession on capital equipment, plant machinery and any other goods employed in the production of other goods but does not include furniture or motor vehicles.
BIO-FUEL PRODUCTION
Tax holiday is available to a taxpayer undertaking anew activity in processing agricultural commodities into biofuels upon approval from 1 January 2009 to 31 December 2028 and employing 20 local employees or more for each year for the duration of the income tax exemption.
To qualify, the taxpayer shall be exempt from tax as follows:
- Capital investment from FJ$250,000 toFJ$1,000,000 for a period of 5 consecutive fiscal years; or
- Capital investments from FJ$1,000,001 toFJ$2,000,000 for a period of 7 consecutive fiscal years; or
- Capital investment above FJ$2,000,001 for a period of 13 consecutive fiscal years
LEGISLATIVE PROVISION
- Income Tax (Electric Vehicle Charging Station Development Package) Regulations 2016
Customs Tariff Act 1986, Part 3, Schedule 2.
LEGISLATIVE PROVISION
- The tax holiday in relation to the Renewable Energy and Power Cogeneration projects will be increased from 5 years to 10 years