Government extends reduction of a number of fiscal and import excise duties on building materials

The government has extended the reduction of a number of fiscal and import excise duties on building materials until the 30th of this month to assist with rebuilding efforts in the aftermath of Cyclone Winston. 

The Fiji Revenue and Customs Authority said the reductions still in place are the 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. 

FRCA said the 9% VAT will still apply on all these items.

Duty and VAT exemption on donations reasonably expected to provide immediate relief to cyclone victims will also continue until the 30th of this month.

This does not include vehicles and jewellery. 

The 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. 

Attorney‑General and Minister for Finance Aiyaz Sayed‑Khaiyum said by extending these reductions in duties, they can keep the price of imported timber and ply board low as the government begins distributing funds under the Help for Homes initiative. 

He said 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 market.