Fiji Time: 11:09 AM on Saturday 25 October

Fiji Times Logo

/ Front page / Business

Support for import substitution industries

Ropate Valemei
Wednesday, November 14, 2012

INDUSTRIES and sectors that assist with import substitution, boost foreign reserves, have high employment numbers and show potential for growth should be strongly encouraged.

This was highlighted in a submission from the Fiji Institute of Accountants to the Ministry of Finance 2013 budget submission.

FIA president Camacakau Raimuria said sectors and initiatives for consideration included the agriculture sector, export sector, hotel industry, fishing, garment industry and ICT industry.

He said the agriculture sector should get tax incentives and other support.

"Alternatively, current provisions should be amended to allow for tax incentives on a pro-rata basis where turnover exceeded $300,000, and should be available to all kinds of agricultural activities," Mr Raimuria said.

Currently, he said tax incentives for small and medium enterprises (SMEs) were available only if total turnover was about $300,000 per annum and was available for selected prescribed activities in agriculture, fisheries and tourism sectors only. He said the encouragement of export industries that contributed to foreign reserves was important to an economy like Fiji.





Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Today's Most Read Stories

  1. Siblings in shock
  2. Forum lifts Fiji ban
  3. Farewell Duke
  4. Koroi ready to help Fijian scrum during Europe tour
  5. Taskforce rakes in $500k in rent arrears
  6. Group of companies hold inaugural Pinktober celebrations
  7. In the dark
  8. Separating fact from myth
  9. Relief for farmers
  10. Key areas of development

Top Stories this Week

  1. Death shocks family Monday (20 Oct)
  2. Inside Fiji sevens Tuesday (21 Oct)
  3. Budget overspent Wednesday (22 Oct)
  4. Public access Tuesday (21 Oct)
  5. Kepa's not weak Friday (24 Oct)
  6. Forgery suspect still in remand Tuesday (21 Oct)
  7. Full pay while on leave Friday (24 Oct)
  8. $20m in excess Wednesday (22 Oct)
  9. Ryan's fight to help 7s Friday (24 Oct)
  10. $11.9m in arrears Wednesday (22 Oct)