Fiji has successfully been removed from the European Union’s blacklist of non-cooperative jurisdictions for tax purposes, marking a significant milestone for the nation. The island country was initially added to the EU’s list in March 2019 due to concerns surrounding tax transparency and compliance with international standards concerning taxation.
The Fiji Revenue and Customs Service (FRCS) revealed that the country has engaged in extensive legislative and institutional reforms over the last few years to align with global tax requirements. This achievement is expected to boost Fiji’s international reputation, reinstating confidence in its tax framework and demonstrating a commitment to responsible tax governance and global cooperation.
Minister for Finance Esrom Immanuel highlighted the benefits of this removal, noting that it would enhance Fiji’s international relations, particularly with member states of the EU. He stressed the positive implications for attracting foreign investments, strengthening trading connections, and promoting free trade through the EU-Pacific Interim Economic Partnership Agreement.
Udit Singh, the Chief Executive Officer of FRCS, expressed pride in accomplishing this goal ahead of schedule. The commitment to being removed from the blacklist was made during the submission of the FRCS’s annual report to Parliament, with the timeline set for 12 to 18 months. Remarkably, Fiji achieved this in just 10 months. Singh praised his team’s expertise and consistency, as well as the valuable technical support received from the Organisation for Economic Co-operation and Development (OECD).
Looking ahead, the FRCS is committed to ongoing reforms that focus on enhancing tax transparency, fairness, and compliance. This dedication is part of a broader strategy to ensure long-term economic resilience and foster a stable and vibrant economic environment in Fiji. The progress made sends a positive signal not only to investors but also to the international community regarding Fiji’s determination to embrace responsible fiscal practices.