Unscrupulous traders beware -You are being monitored

This is a warning to all traders - reduce prices reflected by the tax cuts in the 2020-2021 National Budget - or face prosecution. Those particularly targeted in this warning are the unscrupulous operators who will do anything unethical and unlawful to make a quick buck.

When the tariffs for the160 items have been removed or reduced, the benefits should filter right down to the consumers

The consumers must not be denied the benefits of this Budget. It would be a great travesty of justice if the people, which this Budget was designed for, do not enjoy its purpose, then we have lost the plot. When business taxes are cut they are done to stimulate business and economic growth. Businesses should use these gains to expand through job creation and new activities. Traders in wholesale and retail business have a moral, legal and ethical obligation to pass on the benefits to the consumers by lowering the prices proportionate to the percentage tax cuts. Trends have shown that consumers spend more when prices of goods are slashed. When consumption and spending increase the traders benefit through revenue.

The volume offsets the perceived small profit margin and makes

up for it. The higher the volume the bigger the profit. So it is a win-win situation.

Only traders who are motivated by greed and a complete disregard of the plight of ordinary Fijians will not take this warning seriously.

FCCC views praised

We are totally in agreement with the sentiments expressed by the Fiji Competition and Consumer Commission.

Its chief executive officer Joel Abraham says the Budget is people-centric and there are some great measures for Fijian consumers included.

However, he says this assumes that businesses will ethically conduct themselves to ensure that the reduction in duty is passed on to consumers which, unfortunately, is not always the case.

He points out One example of what removal of duty would mean for the average Fijian consumer is basic consumer goods becoming cheaper, in addition to most other products, as items will have zero excise duties, with a drop of up to more than 30 per cent.

Basically, the FCCC wants the effect of this massive tax overhaul to flow down to consumers and in their role as the official Fijian price regulator, has vowed to ensure that unethical traders do not rip off Fijians.

Only traders who are motivated by greed and a complete disregard of the plight of ordinary Fijians will not take this warning seriously.

To them we say: You deserve no sympathy when you are caught.”