FCCC will ensure benefits of customs duty reduction on goods and VAT exemption on residential rent is passed down to consumers - Abraham

FCCC will ensure benefits of customs duty reduction on goods and VAT exemption on residential rent is passed down to consumers - Abraham

By Rashika Kumar
Saturday 18/07/2020
FCCC CEO, Joel Abraham

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

AddressEstimatesSupplement
Revenue PoliciesCustoms 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.

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