Fisheries

This incentive is available to a newly incorporated entity engaged in a new business established between 1 January 2018 to 31 December 2028 in the following areas;

Vanua Levu – included Taveuni, Rabi, Kioa and other islands generally included for Government administrative purpose in the Northern Division, Rotuma, Kadavu, Levuka, Lomaiviti, Lau and Nausori-Lautoka region (from Nausori Airport side of the Rewa River (excluding township boundary) to the Ba side of the Matawalu River.

Any company may apply to the Minister for Economy in a prescribed form for an operating licence.

Tax Exemptions Available

The income tax exemption is as follows:

  • capital investment from FJ $250,000 to FJ $1,000,000, for a period of 5 consecutive years; or
  • capital investment from FJ $1,000,000 to FJ $2,000,000, for a period of 7 consecutive years; or
  • capital investment above FJ $2,000,000 for a period of 13 consecutive years.

Benefits under the Tax-Free Region

  • Duty concession on the importation of raw materials, machinery and equipment (including parts and materials) insofar as they are required for the establishment of the business at rates of Free Fiscal, Free Import Excise and 9% VAT.
  • Additional 5 years of income tax exemption is available to any company granted a license and having indigenous Fijian landowner equity of at least 25 percent.

The Trans-shipment Levy (Fish Levy) of $450 per ton has been removed.

Export Income Deduction

A 60% export income deduction is currently available to exporters. This incentive is extended till 31 December 2024. The agriculture and fisheries sector are further incentivised with a 90 percent export income deduction.