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Tax Amendment Bill Eliminates Double Billing

Tax Amendment Bill Eliminates Double Billing
Minister for Industry, Trade and Tourism and Lands Faiyaz Koya
July 15
11:27 2017

There have been some service providers selling chicken curry with steamed rice for $75 on Denarau Island.

Therefore, in order to ensure that Fiji does not become an expensive destination, the Service Turnover Tax Amendment Bill was supported by the Minister for Industry, Trade and Tourism and Lands Faiyaz Koya in Parliament yesterday.

The Bill sought to reduce the Service Turnover Tax from six percent.

“The reduced rate of six percent should have more positive impact on many service providers in terms of offering more competitive prices and creating more business opportunities,” Mr Koya said.

In addition, the requirement for STT to be clearly displayed and separately shown on tax invoices and receipts to ensure transparency and accountability on the part of service providers to their customers.

The amendment also ensures that STT is not paid more than once in relation to a prescribed service.

“This will be welcomed by users of services that are usually outsourced by entities,” he said.

“For instance, any outsourced activities in a hotel would allow only the activities company to charge STT and not the hotel. This way, tourists will not be charged twice on the same service.”

Edited by Karalaini Waqanidrola

Feedback: arishma.narayan@fijisun.com.fj

 

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