Parliamentarians briefed on budget contents
3 July, 2018, 5:44 pm
FIJI’S Attorney-General and Minister for Economy Aiyaz Sayed-Khaiyum and his team of senior ministry officials today briefed Members of Parliament on the 2018-2019 budget.
The A-G took the MPs through some of the policy initiatives and the rationale behind those initiatives.
One of the new initiatives was the introduction of the $1.25million threshold for application of STT and ECAL.
“As you know, there were certain prescribed businesses which had to pay STT and ECAL, example, rental car companies, motels, etc, it was compulsory to pay. After studying this system for a few years, and to encourage investment, we’ve now exempted all the prescribed businesses with a gross turnover of less than $1.25 million,” Mr Sayed-Khaiyum said.
He said the whole idea was Government did not want small businesses to be paying STT and ECAL.
The budget briefing was attended by most MPs, including Leader of Opposition Ro Teimumu Kepa.