FRCA ex­tends duty re­duc­tions to as­sist with re­con­struc­tion

Fiji Sun - - Business - SOURCE: FIJI REV­ENUE AND CUS­TOMS AU­THOR­ITY

The Fi­jian Govern­ment has ex­tended the re­duc­tion of a num­ber of fis­cal and im­port ex­cise du­ties on building ma­te­ri­als un­til May 30.

This is in a bid to as­sist with re­build­ing ef­forts in the af­ter­math of Cy­clone Win­ston, Fiji Rev­enue and Cus­toms Au­thor­ity act­ing chief ex­ec­u­tive, Vis­vanath Das said. This in­cludes waiver of 10 per cent Im­port Ex­cise duty on im­ports of sawn tim­ber and re­duc­tion of Fis­cal Duty from 32 per cent to five per cent on im­ports of ply boards. Also re­duc­tion of Fis­cal Duty from 32 per cent to five per cent and re­duc­tion of Im­port Ex­cise duty from 10 per cent to five per cent on im­ports of in­su­lated wires, ca­bles and elec­tric con­duc­tors. The usual nine per cent VAT will still ap­ply on all items men­tioned above. “Duty and VAT ex­emp­tion on dona­tions rea­son­ably ex­pected to pro­vide im­me­di­ate re­lief to cy­clone vic­tims will also con­tinue un­til May 30. “This does not in­clude ve­hi­cles and jew­ellery,” Mr Das said. “These con­ces­sions will re­main avail­able to all com­pa­nies and in­di­vid­u­als. How­ever, in or­der to qual­ify for con­ces­sion the con­sign­ments must leave the coun­try of ori­gin by the end of May.” The At­tor­ney-Gen­eral and Min­is­ter for Fi­nance, Aiyaz Sayed-Khaiyum, said: “By ex­tend­ing these re­duc­tions in du­ties, we can keep the price of im­ported tim­ber and ply board low as Govern­ment be­gins dis­tribut­ing funds un­der the Help for Homes ini­tia­tive.

“This will al­low re­cip­i­ents un­der the ini­tia­tive to max­i­mize their pur­chas­ing power and take ad­van­tage of a higher sup­ply of tim­ber and ply wood in the Fi­jian mar­ket.” The fol­low­ing re­duc­tions will re­main in place: • Waiver of 10% Im­port Ex­cise duty on im­ports of sawn tim­ber • Re­duc­tion of Fis­cal Duty from 32 % to 5 % on im­ports of ply boards • Re­duc­tion of Fis­cal Duty from 32 % to 5 % and re­duc­tion of Im­port Ex­cise duty from 10% to 5% on im­ports of in­su­lated wires, ca­bles and elec­tric con­duc­tors.

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