Fiji introduces VAT refund scheme
Wednesday January 13, 2010
Fiji has announced plans to introduce a tourist VAT scheme next month.
The system will come into effect on February 1st 2010 and will enable tourists to claim refunds on the VAT they pay on goods purchased in Fiji, reports Fiji Live.
In order to be eligible for a refund, consumers must spend FJ$500 (180 euros) in any VAT-registered retail outlet and must take the goods out of Fiji within two months from the date of purchase.
The Fiji Islands Revenue and Customs Authority said it will provide VAT services for those wishing to claim refunds at Nadi International Airport and Suva Wharf.
Mahendra Patel, chairman and chief executive of the Motibhai retail group, welcomed the initiative and said it will enable Fiji’s tourism sector to be on a par with those of Singapore, Hong Kong and Dubai.
Industry commentators expect the introduction of the tourist VAT refund scheme to boost Fiji’s tourism industry and have a positive impact on its economy.