Fiji Implements Renewable Energy Incentives to Boost Investment
Fiji's government has introduced a comprehensive incentives package to accelerate investments in renewable energy and support its low-carbon transition. Key measures include tax deductions for businesses and households, aimed at enhancing project viability and attracting private sector engagement.
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Fiji's government has unveiled incentives targeting renewable energy investments, promoting a transition to a low-carbon economy. Businesses can receive a 100% tax deduction on capital costs for renewable projects, including solar, biogas, and wind technologies.
New renewable energy income may be exempt from income tax for up to 10 years, subject to CEO approval, aimed at improving project viability. Households can claim VAT refunds on investments in residential solar setups.
Additional benefits include duty concessions for imported renewable goods and incentives for carbon trading activities. These measures aim to enhance energy security and fulfill national climate objectives, though their effectiveness will depend on private sector engagement and compliance with conditions.
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