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From Fiji Broadcasting System (10 November 2013) Investment threshold for selected islands by Mika Loga The investment threshold for the selected maritime islands has also been extended along with the Tax Free Regions of Korovou to Tavua corridor. FRCA chief executive Jitoko Tikolevu says the Tax free Maritime regions are Kadavu, Vanua Levu, Taveuni, the Lomaiviti and Lau groups and Rotuma. "Government through announcement yesterday has opened it up to any other industry to set up in those areas which is good and there will be availability of concessions thirteen years subject to various tiers in terms of capital investment $250,000, $1m, $2m to be entitled for the thirteen years tax holiday and its all duty free of raw materials and capital plant machineries." The initiative was announced by Prime Minister Voreqe Bainimarama in his 2014 budget address yesterday. |