Department wants withdrawal of concessions
October 21, 2015 5:09 am
The Department of Mining and Mineral Resources wants the government to withdraw tax concessions for mining companies.
Director Mineral Resources Malakai Finau made the request while presenting submissions on the Income Tax Bill 2015.
All mining companies in Fiji are a tax holliday – but Finau says this needs to be reviewed to improve revenue.
“Perhaps we can review some of the tax holiday given to mining companies but the point is that mining companies have to pay their dues what they should rightfully pay government, at the end of the day mineral resources which belong to the state are being taken out of the country and the company has to pay this.”
Chairman of the Standing Committee on Justice, Law and Human Rights Ashneel Sudhakar says they will take note of this – but there are other factors to consider.
In his submission Director for Mining Malakai Finau revealed that the contribution of Mining to the economy is insignificant and there is a need of a good management plan for the sector.