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Businesses In North Seek Grace Period From FRCA

Businesses In North Seek Grace Period From FRCA
Labasa Chamber of Commerce and Industries president Satish Kumar. Photo: Shratika Naidu
October 07
10:35 2015

The implementation of a grace period to businesses in the northern division to make delayed tax payments were raised by Satish Kumar.

Mr Kumar, the president of the Labasa Chamber of Commerce and Industries (LCCI) said northern division businesses cannot be compared with the Suva business development. This was due to difference in the environment of doing business.

This request was made during the public hearing session on the Income Tax Bill yesterday at Macuata House in Labasa before the Parliamentary Standing Committee on Justice, Law and Human Rights and the Fiji Revenue and Customs Authority (FRCA).

Mr Kumar said: “I do agree that business people sometimes delay payments but what FRCA does straight away is put forward charges or penalty.

“It is a very heavy sum and all we are requesting is for FRCA to give businesses grace period or some understanding percentage.

He explained previously it was about 10 per cent but now it is 40 per cent.

“Sometimes FRCA makes their own assessment which we are not aware of it unless we get a statement stating the penalties,” he said.

“We, business people end up paying 40 per cent and we have received reports where businesses have been deregistered to which we were not informed about it.”

Mr Kumar requested FRCA to relook into their concerns before the bill was passed in the government.

“At least business people should be given a chance also to make some profit so that business continues in Northern Division,” he said.

He also asked FRCA to relook on the Wine and Dine Restaurant Licence.

Committee chairman Ashneel Sudhakar has requested Mr Kumar to draft a budget submission on behalf of the LCCI to Ministry of Finance since he is representing the business community in Labasa.



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