22 October, 2020, 4:01 am Central - 22°C Clouds

FCCC commends some businesses for passing down duty reductions

FCCC commends some businesses for passing down duty reductions

By Vijay Narayan
Thursday 06/08/2020
Fijian Competition and Consumer Commission CEO Joel Abraham

The Fijian Competition and Consumer Commission has commended Tappoos, Burger King and McDonalds for reducing the prices of their products to reflect the reductions and exemptions in duties and taxes, such as the Environment and Climate Adaptation Levy and Service Turnover Tax that were part of the 2020-2021 National Budget.

FCCC CEO, Joel Abraham says these are examples of responsible businesses who are making sure that their customers enjoy the reductions from the budget and are thus ensuring that all Fijians get to benefit.

Abraham says he must give kudos to these businesses for stepping up and being proactive in terms of reductions of the prices of their products since it is not always guaranteed that a business will act ethically and do so without intervention.

He says as regulators, it is FCCC’s duty to see that importers, distributors and retailers are not pocketing the extra money and ripping off Fijians.

Abraham says they will make sure that there is a trickle down effect to consumers, from the tax reductions in the budget.

He also says that this would require a thorough assessment of the supply chain to ensure that duty is passed from the importer to the wholesaler to the retailer to Fijian consumers.

Abraham reminds businesses that the 2020-2021 National Budget was designed to assist all Fijians, people and businesses alike and exploitation of the government’s tax overhaul by unethical individuals and businesses would only hamper the real effect of the budget.

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