Environment and Climate Adaptation Levy and Service Turnover Tax should be suspended - Nur Bano Ali

The President of the Fiji Chamber of Commerce and Industry, Nur Bano Ali confirms they have supported the submission from the Tourism Industry that Environment and Climate Adaptation Levy and Service Turnover Tax should be suspended for a while.

Ali says ECAL is an additional burden for businesses as we go through these extraordinary times.

She says businesses are looking at reducing costs and they are in survival mode.

Ali says they have submitted that ECAL should be looked at with a lot of business interest at heart and they hope the focus of the 2020/2021 National Budget will be to reduce the cost of the businesses.

Ali says the Chamber plans to meet with Association of Banks in Fiji and work on strategies and options available to ensure the the loan deferment for businesses is extended for another six months particularly for the survival of small and micro businesses.

Ali also reveals that more than 7,000 applications have been received for concessional loans for Micro, Small and Medium Enterprises that the government had put out.

She says there will a substantial amount of money that will be paid to small and micro businesses and they will then spend the money which will circulate in the economy.

Ali adds that government will need to support businesses as without businesses there will be no economy.