The VAT rate in Fiji is being reduced to 12.5% on the 1st August 2025.
There are two things you need to do in MoneyWorks to manage this.
Step 1. Change the Tax Rate
1. Go to your Tax table by choosing Show>Tax Rates
The Tax Rates list will be displayed.
2. Double-click the affected tax code(s)
The Tax Code window will be displayed (the default code for VAT in MoneyWorks is “V”, but you might have altered it to something else):
There are two tax rates displayed along with a changeover date. Rate1 applies to transactions dated before the changeover date, and Rate2 applies to those after.
3. Change the Rate 1 to the current rate (15%)
4. Set the changeover date to 1st August 2025
5. Set Rate 2 to the new rate (12.5%)
Transactions dated before 1st August will continue to have VAT applied at the 15% rate. Transaction dated on or after this date will have VAT applied at the new rate of 12.5%. This means you can set up the new rates some time in advance of the actual changeover.
Step 2. Change VAT VMS Fiscalisation code
If you are using VMS, you will need to use the new “G” fiscalisation code from 1st August. This change cannot be made earlier: you must make it first thing on the 1st August before you process any sales.
1. Choose Command>Fiji VMS Settings
The VMS settings window will open, with the mappings down the left side:
2. Change the VMS TC code for the affected rate(s) to G
Click in the right hand column to do this.
This will ensure that all subsequent fiscal transactions will use the correct codes as mandated by FRCS.
Caveat on Recurring Transactions
Recurring transactions, being copies of the original, may recur with the old tax rates. You should check the newly recurred transactions before you post them and, if the rate is wrong, update it by rekeying the tax code on each line of the transaction. Subsequent recurrals (a necessary neologism) will be based on this modified transaction.