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Archived News: November 2013


From Fiji Broadcasting System (10 November 2013)

Investment threshold for selected islands

by Mika Loga

The investment threshold for the selected maritime islands has also been extended along with the Tax Free Regions of Korovou to Tavua corridor.
Yesterday, the 2014 budget extended the investment threshold for Korovou to Tavua to 2018 and expanded it to other commercial activities along with dairy and agriculture.

FRCA chief executive Jitoko Tikolevu says the Tax free Maritime regions are Kadavu, Vanua Levu, Taveuni, the Lomaiviti and Lau groups and Rotuma.

"Government through announcement yesterday has opened it up to any other industry to set up in those areas which is good and there will be availability of concessions thirteen years subject to various tiers in terms of capital investment $250,000, $1m, $2m to be entitled for the thirteen years tax holiday and its all duty free of raw materials and capital plant machineries."

The initiative was announced by Prime Minister Voreqe Bainimarama in his 2014 budget address yesterday.