Budget

Landing cost of vehicles to be published

The Fiji Revenue & Customs Authority will publish the landing and sales costs for vehicles imported into Fiji from August this year. Minister Sayed-Khaiyum said many car dealers were putting excessive markups on vehicles, giving an example of a particular vehicle having a landing cost of $8,000 and being retailed for $22,000. The Government will […]

Newsroom

June 22, 2016 7:50 pm

The Fiji Revenue & Customs Authority will publish the landing and sales costs for vehicles imported into Fiji from August this year.

Minister Sayed-Khaiyum said many car dealers were putting excessive markups on vehicles, giving an example of a particular vehicle having a landing cost of $8,000 and being retailed for $22,000.

The Government will implement a tax deduction of 300% for businesses who employ persons with disabilities.

SAYED-KHAIYUM: “To encourage employment creation and availability of employment opportunities for disabled persons, Government has extended the Employment Taxation Scheme to include employment of disabled people for a period of 3 years with 300 percent tax deduction.”

The Minister also announced other changes to laws to cater for disabled persons, such as reserving the first two rows of seats in a bus.

SAYED-KHAIYUM: “Government has allocated $1.6 million to cater for the establishment of a disability centre in Lautoka to serve as a meeting place for disabled persons in the West. The facility will also provide a storage space for donated items and equipment. The funding will also cater for the increase in salary of teachers paid by registered special schools and the purchase of a disability-inclusive bus.”

The Government has allocated $5million to the Legal Aid Commission.

In the 2016-17 Fiscal Year, four new Legal Aid Commission offices will be opened throughout Fiji.

New Offices:

  • Taveuni
  • Rotuma
  • Levuka
  • Kadavu

Existing Offices:

  • Nasinu
  • Navua
  • Sigatoka
  • Nadi
  • Ba
  • Rakiraki
  • Suva
  • Lautoka
  • Labasa
  • Nausori
  • Savusavu

The Government needs to do a better job of overseeing the insurance sector, according to the Minister of Finance Aiyaz Sayed-Khaiyum.

SAYED-KHAIYUM: “The insurance industry has not been regulated well. Insurance companies simply need to do more.”

Minister Sayed-Khaiyum said the Reserve Bank would soon commence public consultations on the insurance industry in Fiji.

The Finance Minister Aiyaz Sayed-Khaiyum today presented an Appropriation Bill in Parliament and is currently delivering the 2016-17 National Budget Address.

The Finance Minister said his Government is forecasting revenue at $3.64billion and expenditure at $3.18billion, giving a deficit of $460million.

The Opposition is expected to give a response on July 04.

The Government earlier this year changed the fiscal year for Government to August 01-July 31, citing numerous reasons.   The Opposition had claimed a political motivation for the move.

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