Business

Inspection efforts intensify ahead of VAT implementation

July 31, 2023 6:46 am

The consumer protection bodies have intensified their scrutiny to ensure that Fijians are not exploited and overcharged following the announcements in the new budget.

As part of these announcements, certain goods and services will now attract a value-added tax rate of 15 percent from Tuesday onward.

Consumer Council Chief Executive Seema Shandil says they have stepped up their market inspection efforts.

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“There are 22 items that are VAT exempted so I would like to urge all the businesses to be ethical and to practice ethically and increase VAT on those items that require the increase and not those items that already has a 15 percent VAT on it.”

Shandil adds that her teams will also be out on the ground after August 1st.

“As we hit 1st August we will be back on the ground to check that traders have ethically increased the price and not just unethically on those items that have 15 percent. Also, it would be good to see that the prices have changed. I know it will require a lot of items that will have price changes and price tags need to be changed, but there should be certain disclosures. “

She adds that they want to maintain a level playing field in the market, promote healthy competition, and prevent monopolistic behaviour.