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Commission Commends Businesses On Price Reduction

FCCC has commended Tappoos, Burger King and McDonalds for reducing the prices of their products.
06 Aug 2020 09:20
Commission Commends Businesses On Price Reduction

The Fijian Competition and Consumer Commission (FCCC) has commended Tappoos, Burger King and McDonalds for reducing the prices of their products to reflect the reductions and exemptions in duties and taxes, such as the Environment & Climate Adaptation Levy (ECAL) and Service Turnover Tax (STT) that were part of the 2020-2021 Fijian National Budget.

“These are examples of responsible businesses who are making sure that their customers enjoy the reductions from the Budget and are thus ensuring that all Fijians get to benefit,” said FCCC CEO, Joel Abraham.

“I must give kudos to these businesses for stepping up and being proactive in terms of reductions of the prices of their products since, it is not always guaranteed that a business will act ethically and do so without intervention.”

“As regulators, it is our duty to see that importers, distributors and retailers are not pocketing the extra money and ripping off Fijians. We will make sure that there is a trickle-down effect to consumers, from the tax reductions in the budget.”

Abraham said this would require a thorough assessment of the supply chain to ensure that duty is passed from importer to the wholesaler to the retailer then to the Fijian consumers.

He reminded businesses that the 2020-2021 National Budget was designed to assist all Fijians, people and businesses alike and exploitation of the Government’s tax overhaul by unethical individuals and businesses would only hamper the real effect of the budget.

Feedback: maraia.vula@fijisun.com.fj

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