Fiji Time: 7:21 PM on Saturday 29 April

Fiji Times Logo

/ Front page / News

$300m lost

Geraldine Panapasa
Wednesday, July 16, 2014

ABOUT $300million in government revenue was lost last year because of duty concessions, says Fiji Revenue and Customs Authority CEO Jitoko Tikolevu.

His comments followed the signing of a memorandum of agreement between FRCA and the Fiji Commerce Commission to monitor the price of goods, which had received government concessions.

He said the duty concessions had been given by the government in good faith.

"The same must be practised by those that received concessions.

"They must pass on the benefits to consumers," Mr Tikolevu said in a statement last week.

Fiji Commerce Commission CEO Bobby Maharaj said the idea behind the duty concessions was to ensure there was a trickle-down effect, which meant there was a reduction in the importation cost.

"That should result in a reduction in wholesale and retail prices. From the commission's perspective, it's important to monitor the prices of goods post-budget announcement," said Mr Maharaj.

Ministry of Finance permanent secretary Filimone Waqabaca said the government would work with businesses to ensure consumers benefitted from duty concessions.

He said a taskforce, comprising the permanent secretaries of the Ministry of Finance and the Ministry of Industry and Trade, and CEOs of the Fiji Commerce Commission and FRCA, would meet regularly.








Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Westpac
Code Inward TTs Outward TTs
CAD 0.65730.6383
JPY 54.283651.2836
GBP 0.37250.3645
EUR 0.44340.4314
NZD 0.70770.6747
AUD 0.64900.6240
USD 0.48450.4675

from

$0.00

Exchange Rate updated on 28th, April, 2017

Today's Most Read Stories

  1. Officers complain
  2. Thrown out
  3. Media freedom ranking
  4. Ratu Vuniyani is Tui Nadi
  5. Ex-mill worker graduates
  6. Sai, the builder
  7. Father, son still missing
  8. 1.5pc interest on education loan
  9. Police probe fire, death
  10. Health support

Top Stories this Week

  1. Mystery chests Friday (28 Apr)
  2. Salaries reduced Thursday (27 Apr)
  3. Luveni: Drug shortage not urgent Tuesday (25 Apr)
  4. PM upsets church Tuesday (25 Apr)
  5. Another version of history A tribute to the contribution of Fiji Nepalis Sunday (23 Apr)
  6. Villagers defy State sacking Thursday (27 Apr)
  7. Hard work never fails Thursday (27 Apr)
  8. Her dream a reality Tuesday (25 Apr)
  9. Biman 'removed' Friday (28 Apr)
  10. A mother's sacrifice Monday (24 Apr)