Reduce prices if there are reductions in taxes and duties-FRCA

As the Prime Minister gets ready to deliver the 2013 National Budget address at 3pm today, the Fiji Revenue and Customs Authority said it is necessary for businesses to ensure that they reduce the prices of goods if there are reductions in taxes and duties.

Commodore Voreqe Bainimarama said government assists businesses because they provide people with jobs but he stresses that businesses also have a responsibility to play by the rules and ensure fairness for its consumers.

He has highlighted that the government is extremely concerned that some business houses in Fiji have chosen to impose excessive mark ups in the price of some goods and services.

He said this is a serious concern as government has reduced or zero rated duty to make goods more affordable, but certain business houses that import these goods do not reduce prices accordingly.

The Prime Minister has put the businesses concerned on notice that they are being closely monitored and necessary action will be taken.

Many people have told Fijivillage that there will be no direct impact if the tax or duty reductions announced are not passed on to the consumers.

FRCA Chief Executive Officer, Jitoko Tikolevu said the businesses should play their part.