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Media Center > Cabinet Releases > 4/12/12 - CABINET APPROVES SERVICE TURNOVER TAX (BUDGET AMENDMENT) DECREE 2012

4/12/12 - CABINET APPROVES SERVICE TURNOVER TAX (BUDGET AMENDMENT) DECREE 2012

12/4/2012
Cabinet has approved the Service Turnover Tax (Amendment) Decree 2012.

The Decree will commence on 1 January 2013.

Cabinet based its decision on a submission by the Attorney – General, Mr Aiyaz Sayed – Khaiyum.

The Attorney – General said that the amendment Decree follows the announcement in the 2013 Budget Address by the Prime Minister and Minister for Finance announced on the need to strengthen the collection of Service Turnover Tax (STT).

“Accordingly, persons or agents receiving rental money on behalf of home stay owners will need to be made accountable to pay Fiji Revenue and Customs Authority the 5 percent STT every month with the net amount paid to the home stay owners.”

“STT returns should be lodged by home stay owners or their agents.”

He said that the Service Turnover Tax Decree 2012 is amended in section 5 to make persons or agents receiving rent on behalf of the owner an accountable person.

-ENDS-
 
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