Fiji Revenue and Customs Service collects highest revenue in strong recovery

The Fiji Revenue and Customs Service (FRCS) has recorded its highest-ever revenue collection.

It raked in $2.28 billion for the 2022–2023 financial year. The Standing Committee on Foreign Affairs and Defence highlighted this in its review of the FRCS 2022-2023 Annual Report, tabled in Parliament last week.

The report stated that FRCS surpassed its revenue projection by $33million, with a 35 per cent increase compared to the previous year. This growth reflected Fiji’s post-COVID economic recovery.

The statement pointed to the rise in tourism, stronger business performance and higher consumer spending.

VAT continued to be the country’s biggest income source, contributing just over $1billion, while corporate income tax and trade taxes also performed strongly.

The committee also highlighted FRCS’s financial turnaround, noting that the agency recorded an operating surplus of $6.7 million, after being in deficit the previous year.

“This surplus contributed to the overall financial position of FRCS,” the report stated. A major part of the progress came from FRCS’s digital transformation. More than 63,000 taxpayers now use the Taxpayer Online Services (TPOS) platform, which has grown to over 100 online services.

The Committee noted that the introduction of online filing systems and the new Compliance Improvement Strategy “promoted certainty, transparency, and voluntary compliance.”

Overall, the Committee said the 2022–2023 year was one of “renewed progress,” marked by stronger revenue, modernisation, and improved capacity to support national growth.

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