As the Minister for Economy Aiyaz Sayed-Khaiyum has announced in the 2020/2021 National Budget that customs duty on 1,600 items and fiscal duty has been reduced to 5% and import excise tax on a range of white goods have been eliminated, the Fijian Competition and Consumer Commission says they will ensure that the benefits of this reduction will be passed down to the consumers.
FCCC CEO, Joel Abraham says they have a good relationship with businesses but they should not be mistaken as FCCC will come hard on traders who are unethical.
2020-2021 Budget Resources| Address | Estimates | Supplement |
| Revenue Policies | Customs Tariff Act |
He says they have a system of enforcement but there will be some legislative changes providing specific provisions to empower FCCC.
Meanwhile Sayed-Khaiyum has also announced that residential rent is also VAT exempt.
Abraham says they will make sure that such exemption is also reflected by the reduction where VAT has previously been charged.
Stay tuned for the latest news on our radio stations
