The Fiji Revenue and Customs Service (FRCS) has initiated its first round of negotiations with the New Zealand Inland Revenue Department to reassess the Double Taxation Agreement (DTA) between the two nations. The discussions are taking place in Wellington and aim to update the existing agreement, which was originally signed on October 27, 1976, with amendments made in 1986 and 1994.
Leading the Fijian delegation is FRCS Chief Executive Officer Udit Singh, who is joined by senior members of the FRCS management team. The formal opening of the negotiations was marked by a traditional Māori ceremony, emphasizing the deep respect and robust partnership between Fiji and New Zealand. On the New Zealand side, the delegation is headed by Strategic Policy Advisor Carmel Peters.
Udit Singh expressed that Fiji highly values its enduring relationship with New Zealand. He noted that the review signifies a mutual commitment to establishing a modern and fair tax treaty framework that fosters business activities while prioritizing the interests of citizens in both countries. He also highlighted that the Duavata Partnership serves as a solid foundation for these negotiations, underlining the mutual trust and cooperation that will drive them towards creating a progressive agreement.
As the week unfolds, FRCS is optimistic about engaging in fruitful discussions with their New Zealand counterparts, with a shared goal of finalizing a modernized DTA by 2026. This proactive approach not only aims to enhance economic ties but also reflects a positive outlook for future cooperation between the two nations, paving the way for beneficial outcomes for businesses and citizens alike.