Fiji Lures Aid with Tax Breaks
December 24, 2012 Taxation in Fiji
SUVA – The government of the disaster struck Fiji is foregoing future tax revenues in exchange for the immediate assistance, funds and supplies needed for its relief efforts.
In the wake of the devastating Tropical Cyclone Evan which struck Fiji earlier this month, the national government announced over the weekend that it is offering significant tax breaks to people and businesses as incentive to make donations of cash and goods to be used towards the country’s recovery.
Any individual taxpayer who donates more than FJD 1 000 (approx USD 570 ) to a nominated bank account of the Prime Minister’s Relief Fund will be granted a tax deduction of 200 percent of the amount offered.
This is not the first time that the Fijian government has decided to offer such significant tax deductions in exchange for donations towards disaster relief efforts, with a similar program already being run earlier this year to help raise funds for rebuilds following a series of floods which struck the island nation in January and February this year.
Local businesses wishing to make donations to the country’s relief efforts will also be offered an incentive, being granted easier access to duty-free concessions in exchange for any goods and materials which will help the government’s rebuilding efforts.
Photo by NASA Goddard Photo and Video