The Fiji Government has again made major changes to how payroll is to be processed from 2014.
While the tax rates have not changed, the method of calculation has now changed significantly.
The new method of calculation was gazetted on Friday November 22nd 2013.
These changes are to further streamline the implementation of the PAYE as Final Tax which was introduced in 2013.
If you are a PayMaker user, you do not need to worry. PayMaker is currently being updated and will be fully compliant. We will provide you with more information as part of the End of Year Service.
This change is mandatory and all payroll software vendors will be required to incorporate this new PAYE formula and have the software tested and certified by FRCA.
If your company is not using PayMaker, you need to ensure that your provider is implementing these changes so you are tax compliant in 2014. Employers who do not comply too the tax requirements can be charged large fines and penalties
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Looking for a Payroll software that is Tax Compliant?
Contact us now:
Ph: +(679) 330 4554 Fax: +(679) 330 4864
Email: payroll@standss.com.fj
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