Manufacturing

Manufacture of Pharmaceutical Products Investment Package

This incentive is specifically designed to assist companies engaged in the process of refining, manipulating and mixing a pharmaceutical product; excluding the process carried out by a pharmacist and including an existing manufacture of pharmaceutical products.

Tax Benefit

Income of the approved person/company will be exempt from tax as follows:

  • Capital investment from FJ $250,000 to FJ $1,000,000 for a period of 5 consecutive fiscal years; or
  • Capital investments from FJ $1,000,001 to FJ $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.

Conditions

  • Applicable to companies engaged in the development of a building for the manufacture of pharmaceutical products.
  • Project with capital investment (including the cost of support infrastructure and consultant fees but excluding the cost of land) over $250,000.
  • The project commences on or after 1 August 2019 and the building is completed within 2 years from the date of the provisional approval.
  • The company should have a valid approval to manufacture pharmaceutical products from Fiji Pharmacy Board.

Customs Concession

Companies or entities engaged in the manufacture of pharmaceutical products are eligible for duty concessions under Code 294. The eligible items include:

  • Ethanol at a rate of Free Fiscal Duty, Free Import Excise and 9% VAT;
  • All raw materials used to manufacture approved pharmaceutical products at a rate of Free Fiscal Duty, Free Import Excise and 9% VAT; and
  • Machinery equipment and accessories used in the manufacture of pharmaceutical products at a rate of Free Fiscal Duty, Free Import Excise and 9% VAT.

Legislative Provision

Part 2, Income Tax (Manufacture of Pharmaceutical Products Investment Package) Regulations 2019.