The Land Transport Authority will be the collecting agent for Stamp Duty on transfer of registered second hand motor vehicles from 1st of next month.
Persons buying or transferring registered second-hand vehicles will have to pay a Stamp Duty of three percent of the purchase price.
The Chief Executive Officer of Fiji Revenue and Customs Authority Jitoko Tikolevu has stressed that the imposition of stamp duty on second hand motor vehicles was always there as it is the instrument that already exists in the Stamp Duty Act.
He added FRCA is just implementing it now however for the convenience of public LTA will collect stamp duty.
A Memorandum of Understanding was signed between FRCA CEO Jitoko Tikolevu and CEO of Land Transport Authority Naisa Tuinaceva today.
A penalty of up to 25 to 50 percent will be enforced on persons found avoiding the Stamp Duty.
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