New sports facilities to get tax breaks

Fiji is introducing a new tax incentive aimed at boosting investment in sports facilities. The proposed measure, part of the Income Tax Amendment Bill, seeks to make establishing new sports infrastructure more financially attractive for individuals and businesses.

Under the proposed legislation, individuals who invest in new sports facilities will be eligible for a significant tax deduction. They will be able to claim a 150 percent tax deduction on their investment. This incentive is designed to encourage greater private sector participation in the development of sporting amenities.

Minister for Finance Esrom Immanuel explained that the initiative is intended to stimulate investment in sporting infrastructure throughout Fiji. By offering a substantial tax benefit, the government hopes to see an increase in the development and upgrading of facilities that can support a range of sports and recreational activities.