FIJI ISLANDS

VALUE ADDED TAX DECREE (BUDGET AMENDMENT) ACT 2004
ACT NO. 5 OF 2004

I assent

J.I. ULUIVUDA
President
[9 March 2004]

AN ACT

FOR AN ACT TO AMEND THE VALUE ADDED TAX DECREE

ENACTED by the Parliament of the Fiji Islands

Short title and commencement

1. (1) This Act may be cited as the Value Added Tax Decree (Budget Amendment) Act 2004 and is deemed to have come into force on 1st January 2004.

(2) In this Act Decree means the Value Added Tax Decree 1991 (Decree No. 45 of 1991).

Interpretation

2. Section 2 of the Decree is amended in the definition of "tax fraction" by deleting "expressed as a whole number".

Assessment of tax

3. The Decree is amended in section 44 by inserting the following provision -

"(6) For the purposes of section 44, 45, 46 or any other section relating to assessment of tax, the Commissioner may, in the assessment of one taxable period, raise or include assessment of any other taxable period.".

Refund of excess tax

4. The Decree is amended in section 65 by repealing subsection (7).

Relief from tax

5. Section 70 of the Decree is amended -

(a) in subsection 2(a) by deleting the full-stop after "subsection", and substituting a colon and inserting the following proviso-

"Provided that such claim can only be made once by an eligible person.".

(b) in subsection 2(f) by inserting ", subject to paragraph (h)," between "shall" and "refund";

(c) by inserting after paragraph (g) the following paragraph-

"(ga)If, in respect of an eligible person to whom a refund is due in accordance with paragraph (c), there is an amount owing to the Commissioner by that person in respect of any tax, penalty or interest of costs under this Decree, the Income Tax Act or the Gambling Turnover Tax Decree 1991 for that year or any other year of assessment, the refund shall first be applied towards the tax liability, penalty or interest of costs and only then shall any balance of the refund due be paid to the taxpayer;".

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Passed by the House of Representatives this 9th day of February, 2004.

Passed by the Senate this 3rd day of March, 2004