SERVICE TURNOVER TAX For Hoteliers and Tourist Marine Vessel Operators

More documents

Recommendations

Info

CONTENTS Page Part A - Service Turnover Tax What is Service Turnover Tax (STT)? 1 Part B - Service Provider Obligations Who should register for STT? 1 Who are the parties liable to account for STT? 1 Deemed STT Registration 2 Accommodation Services not subject to STT 2 Who is responsible to collecting STT? 2 Accounting for STT 2 STT Penalties 3 Offences under the STT Act 3 Part C - STT Calculation Guidelines for calculating STT 3 Part D - Registration How and when to register? 5
Part A - Service Turnover Tax What it is? Service Turnover Tax (STT) is a tax that is levied on the VAT exclusive cost of turnover of any person conducting a business involving the provision of a prescribed service, at the rate of 5%, with effect from 1st January, 2012. Turnover means any sums or amounts received or receivable by or on behalf of the owner of a service in respect of any sums or amounts included in a charge for a prescribed service. The service provider has to collect the STT shown on the bill issued to a customer. Part B - Service Provider Obligations Who should register for STT? As from 1st January 2012, the owner or the person (Accountable Person) who is responsible for the daily management of a prescribed service should register with the Commissioner within 30 days before the commencement of the business. Only persons that provide the prescribed services are required to register for STT purposes and are authorized to include STT in their charges. Who are the parties liable to account for STT? The new STT will apply to the prescribed services that are provided by the following parties and business operations: • a licensed hotel; • operators of a vessel that is wholly or principally engaged in the carriage of tourists within Fiji. • rental car operators; • inbound tour operators; • events management operators; • recreation, entertainment and cinema operators; • bars and night clubs; • bistros, coffee shops & restaurants with annual gross turnover of $1.5 million and above; • All water sports, underwater activities, skydiving, hot air balloon rides, river safaris, aircraft charter or hire, including helicopters with annual gross turnover in excess of $300,000; • Home stay operators; and • Unlicensed operators providing services similar to that provided by the abovementioned operations. 1
Page 1: SERVICE TURNOVER TAX For Hoteliers
Page 5 and 6: The Accountable Person may issue bi
Page 7 and 8: Part D - Registration How and when
Page 9: FIJI REVENUE & CUSTOMS AUTHORITY He

SERVICE TURNOVER TAX For Hoteliers and Tourist Marine Vessel Operators

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?