The Fiji Revenue and Customs Service (FRCS) has announced that obtaining a valid Taxpayer Identification Number (TIN) is now essential for individuals and businesses wishing to open and maintain mobile wallet accounts. This move aligns with the stipulations set forth in the 2025–2026 National Budget Promulgation, which mandates that customers update their details with their respective e-wallet service providers by December 31, 2025.
In a statement, FRCS urged customers who have yet to secure a valid TIN to do so promptly and to ensure that their account details with e-wallet service providers are updated well before the approaching deadline.
The FRCS emphasized additional stipulations for businesses, noting that they must establish a separate e-wallet account dedicated to business transactions. These accounts need to be registered with an appropriate TIN and used exclusively for business purposes.
The recent changes under the Tax Administration Act carry serious implications for non-compliance, including fines of up to $25,000 or imprisonment for a term not exceeding 10 years, or both. Furthermore, e-wallet providers may suspend services for accounts that do not adhere to the new guidelines.
To facilitate a smooth transition to these updated requirements, FRCS is collaborating closely with licensed e-wallet service providers. They encourage both individuals and businesses to act swiftly to avoid any interruptions in services or potential penalties. The authority expressed gratitude to taxpayers for their cooperation in fostering greater financial transparency and compliance within the country.
This proactive approach aims not only to enhance accountability but also to fortify the integrity of Fiji’s financial system, benefiting all participants in the economy.