Who must file
Every Fiji-resident company — including non-profits with taxable income — must lodge an annual corporate income tax return with FRCS. Dormant companies still lodge a nil return.
The filing deadline
Corporate returns are due within 3 months of year-end — so 31 March for calendar year-end companies. Extensions can be requested but are not granted as of right.
What the return requires
- Completed Form IRS106 (corporate return)
- Signed and dated statutory accounts (prepared under IFRS for SMEs or full IFRS)
- Computation of taxable income from accounting profit
- Supporting schedules for depreciation, provisions, capital allowances
- Transfer pricing documentation (where related-party transactions exceed thresholds)
The corporate tax rate
The standard rate is 20%. Qualifying small businesses may access concessional treatment at 10%. Certain prescribed sectors (e.g. tourism, audio-visual) have time-limited concessions.
The 8 things that trigger FRCS queries
- Related-party management fees without documentation
- Large provisions for doubtful debts without evidence
- Unvouched director's drawings or loans
- Depreciation inconsistent with prior-year methods
- Thin-cap borrowing (high debt-to-equity) from related parties
- Entertainment expenses claimed in full
- Home-office claims for directors
- Foreign-exchange translation errors
After lodgement
FRCS issues a Notice of Assessment confirming or adjusting your self-assessed figure. You have 60 days to object if you disagree. Final tax is payable 30 days after the assessment.
How AK Fiji helps
We prepare the statutory accounts and the tax return, review related-party positions, manage FRCS correspondence, and — when needed — represent clients in FRCS objections and disputes.