FRCA sign up BSP to VAT refund scheme
November 23, 2015 11:28 pm
The Fiji Revenue and Customs Authority has extended its tourist VAT refund facilities with the Bank South Pacific.
An agreement signed today allows the bank to set up services from currency exchange to VAT refunds for tourists.
FRCA Chief Executive JitokoTikolevu says the services will particularly be for the main ports to cater for cruise liners with up to 3 vessels expected to berth in Fiji on a weekly basis.
“In 2016 budget announcement, the Minister for Finance also announced implementation of the downtown duty free, so a lot of initiatives has about by government to try and improve and facilitate perhaps the number of tourists that continue to increasing year by year and one thing is certain as well as we look ahead in the future, the number of vessels, cruise vessels that continue to rise, increase in numbers this year as well as next year 2016,2017."
Prior to this arrangement, only one bank was accredited to offer VAT refunds for tourists.