Capital Gains Tax exemptions to be investigated

January 7, 2023 8:15 am

Prime Minister Sitiveni Rabuka says they believe there is cause to investigate Capital Gains Tax exemptions.

These exemptions came into place after Income Tax Amendment Bill No.2 was passed in Parliament.

Rabuka says the exemption was to benefit a few.

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He says the former Economy Minister Aiyaz Sayed-Khaiyum always led the country to believe that the financial state of affairs was not a major problem and they will soon know the truth.

“The files are with the Ministry of Finance. We will keep the public informed of the progress of this investigation.”

Rabuka says they made it clear in their manifestos that implementation of certain promises would be dependent on the true state of Fiji’s economy and they are now focused on establishing the exact position.

He adds they will be conducting mandatory audits and associated checks and balances and until it is completed, they will be curtailing what they consider to be wasteful spending in areas that are not a priority.

Meanwhile, questions have also been sent to the former Economy Minister Aiyaz Sayed-Khaiyum concerning this.