FIJI ISLANDS

INCOME TAX (WITHHOLDING TAX) (AMENDMENT) ACT 2003
ACT NO. 6 OF 2003

I assent
[L.S.]
J.I. ULUIVUDA
President

[4th June 2003]

AN ACT

TO AMEND THE INCOME TAX ACT

ENACTED by the Parliament of the Fiji Islands -

Short title and commencement

1. This Act may be cited as the Income Tax (Withholding Tax) (Amendment) Act 2003 and is deemed to have come into force on 1st April 2003.

Non-resident withholding tax

2. Section 9(3) of the Income Tax Act is amended by substituting a full stop with a semi-colon at the end of paragraph (i) and adding after paragraph (i) the following paragraph-
"(j) any interest, if the Minister is satisfied that such non-payment is expedient for the economic development of Fiji. In any such case, the Minister shall, by notice, in writing, to the Commissioner, direct that any tax otherwise payable under this section be waived or be reduced at such rate as the Minister may specify: Provided that this paragraph does not apply to an amount below $1 million in any one transaction.".

Royalty withholding tax

3. Section 10A of the Income Tax Act is amended by adding the following subsection-

"(6) If the Minister is satisfied that non-payment of the tax, or payment of the tax at a reduced rate, would be expedient for the economic development of Fiji, the Minister may, by notice in writing to the Commissioner, direct that any tax payable under this section be waived or be paid at such reduced rate as the Minister may specify in the notice: Provided that this subsection does not apply to an amount below $1 million in any one transaction.".

Passed by the House of Representatives this 1st day of May 2003.
Passed by the Senate this 21st day of May 2003

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