The Fiji Revenue and Customs Service (FRCS) has declared that acquiring a valid Taxpayer Identification Number (TIN) has become a crucial requirement for individuals and businesses looking to establish and maintain mobile wallet accounts. This initiative is part of the 2025–2026 National Budget Promulgation, which mandates that all customers update their information with their respective e-wallet service providers by December 31, 2025.
In its announcement, FRCS stressed the importance for customers who have not yet obtained a TIN to do so promptly and to update their account details with their e-wallet providers before the impending deadline.
For businesses, there are specific requirements that must be adhered to. They are mandated to have a separate e-wallet account dedicated solely to business transactions. This account must be registered using an appropriate TIN and should only be utilized for business-related purposes.
The updates introduced under the Tax Administration Act have serious ramifications for non-compliance, with penalties reaching up to $25,000 or imprisonment for a term not exceeding 10 years, or both. Additionally, e-wallet providers may suspend services for accounts failing to comply with the new regulations.
In order to facilitate a smooth transition to these new requirements, FRCS is working in collaboration with licensed e-wallet service providers. They urge both individuals and businesses to take action quickly to prevent any disruptions to services or the risk of incurring penalties. The authority expressed appreciation to taxpayers for their ongoing support in promoting greater financial transparency and compliance throughout the nation.
This proactive stance not only aims to enhance accountability within the financial sector but also to strengthen the integrity of Fiji’s financial system, ultimately benefiting all economic participants. With these changes, Fiji is taking significant steps toward building a more transparent and robust economic environment.