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Under-declaration Of Imported Goods A Concern For Government

Under-declaration Of Imported Goods A Concern For Government
The Acting Prime Minister and Minister for Finance, Aiyaz Sayed-Khaiyum.
August 21
09:02 2015

There is under-declaration of the value of goods imported into Fiji, says the Minister for Finance, Aiyaz Sayed-Khaiyum.

Mr Sayed-Khaiyum made these comments yesterday as he addressed the 500 or so delegates attending the CPA Australia-Fiji Branch Annual Congress at the Sheraton Fiji Resort.

He stressed there is still a certain level of culture of dishonesty in Fiji.

“The issue that I raised is about VAT collection on importation of goods. It is not that we are importing less,” he said.

“In reality, there is under-declaration of the value of imported goods into Fiji.”

Mr Sayed-Khaiyum indicated because of VAT exempt items, there were some supermarkets who were rigging the system.

“There was a study done a few years ago which said Fiji’s black economy is valued at about one third of our GDP,” he said.

“If you work on today’s figures, one third of $8 billion is $2.6 billion and if you take 15 per cent of that – it is still a lot.

“If we are able to get rid of the culture of dishonesty, if we are able to focus more on volume-based transactions, then we are going to increase our revenue.

“We will not be able to do this if we do not have everyone’s willingness to subscribe to this idea. Only then we will be able to progress to the next level.”

Feedback: rachael.nath@fijisun.com.fj

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