If waiver of Capital Gains Tax for sale of shares can be legislated retrospectively, why can’t Govt remove extra fuel tax now – Professor Prasad

National Federation Party Leader Professor Biman Prasad says if the waiver of Capital Gains Tax for sale of shares can be legislated retrospectively, why can’t Government remove extra fuel tax now.

While speaking during the party’s Working Committee Meeting held in Ba, Professor Prasad says the price of fuel and gas is at its highest level, with Government literally extorting money by imposing a 20 cents per litre extra duty on fuel for the last 20 months, resulting in already very high cost of living sky rocketing to unsustainable levels.

He also says the Government has received more than $100 million in budget support from Australia and NZ.

Professor Prasad says Government tabled and of course passed in Parliament the Capital Gains Tax Amendment that exempts those who sold shares owned before 2011 from paying Capital Gains Tax.

The NFP Leader adds Government was prepared to lose income for the rich but not for all Fijians and ordinary and middle class workers.

He says the question is why the double standards.

Professor Prasad also says is it the rich being favoured over other Fijians and is this a Government for the haves and not the have-nots.

Professor Prasad also says we all know that prior to the COVID-19 pandemic, Fiji’s economy was declining and the so-called unprecedented Bainimarama boom was a cannon misfiring and shooting blanks.

He adds despite this extremely bleak scenario, the Government thinks it is business as usual and thinks it owns Fiji and has the sole right to determine what is best for our future.

Meanwhile, Minister for Economy and Attorney General Aiyaz Sayed-Khaiyum had earlier told Parliament that if they take away the 20 cents per litre duty imposed on fuel, it immediately puts a $56 million hole in revenue.

Sayed-Khaiyum had said that Parliament has approved the appropriation and they have to stick to that.

He had highlighted that if they are going to remove $56 million in revenue, suddenly certain things have to be cut off.

He had added that making laws and doing appropriation is very different.

The AG had said they have no control over the price of fuel due to increasing oil prices globally and high freight costs.