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IMPORTANT NOTICES

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Department of Customs & Inland Revenue – New Penalties apply from 28th February 2020
The Tax Administration Act (TAA) came into effect on 1st January 2020. It has made changes that apply to Value Added Tax (VAT), Rent Tax, and Customs Legislation. The changes will be of particular interest to you the business community.

Customs prefer that you to file and pay on time. However, please be aware that among the changes is the introduction of a new penalty regime. It applies to VAT and Rent Tax payments and return filing.

The new penalty regime will apply for the first time to the January 2020 VAT returns – which are due for filing and (if applicable) payments on the 27th February 2020.
If you fail to make payment of VAT on time, and/or you file your VAT return late, penalties and/or interest will be charged as follows:

If you file late:
• A late filing penalty of VT30,000 (for an individual) or VT50,000 (for an entity); and
• For each day that the return remains outstanding, a late filing penalty of VT3,000 (for an individual) or VT5,000 (for an entity)

If you pay late:
• A late payment penalty of 5% of the total that should have been paid; and
• For each day until payment is made, late payment interest at a daily rate of 20% per annum.

For more information about Tax Administration Act (TAA) changes, please visit and view the DCIR website https://customsinlandrevenue.gov.vu/

Annual Survey Forms – VFIPA Act 2020
The Vanuatu Promotion Investment Agency would like to remind all foreign investors in Vanuatu that their Annual Surveys are due on the 28th of February 2020.

All foreign investors with a current valid VFIPA Certificate (regardless of your current VIPA renewal date) are expected to fill out this Survey Form and submit to VIPA by the end of the month.

Fees associated with this Survey Form will commence as of February 28th 2021 and this will be charged at 15000vt.
The Survey Form is an obligation for all investors to complete and submit to VFIPA on an annual basis. It is your opportunity to report to VFIPA on the progress of your investment and therefore it is imperative (and mandated under the new VIPA Act) that you keep proper book keeping records.

VIPA are working on the French Version of the Survey Forms and will circulate upon request to the email provided.

Click here to download the VIPA Survey Form

If you have any queries please email ltom@vipa.org.vu

Public Advisory on the Novel Coronavirus
The latest update on the Coronavirus issued by the Vanuatu National Novel Coronavirus Taskforce confirms that at present there are NO suspected or confirmed cases of Coronavirus in Vanuatu, nor in any other Pacific island country. Should a case be detected, the Ministry of Health Emergency Medical Team are on standby with dedicated quarantine facilities in Port Vila and Luganville, and a thorough response plan is ready should it be required.

As of 9th February, 2020, Vanuatu’s enhanced surveillance response measures have been further updated on the following listed below:
1. Pre – Boarding Screening Measures (craft entering Vanuatu)
2. Pre – Arrival Surveillance Measures (craft entering Vanuatu)
3. Actual Arrival Measures
4. Post Arrival Measures (Private Dwellings, Hotels and Resorts)

As well as updates the Taskforce have also listed some Key Recommendations for the Vanuatu Public to consider when travelling.

Click here to download the Novel Coronavirus Public Advisory #3

This is a fast-evolving situation and The Ministry of Health Taskforce will issue further advisories with new information as necessary.

February 11, 2020/by VCCI Editor
Tags: 2020, business, businessdevelopment, inform, private sector, provincial, SMEs, supportingvanuatubusinesses, survey, vcci
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