Morning Price Hike Concern

23/06/2016 11:41

Traders/retailers should refrain from increasing the price of goods from the old stock following the 2016-2017 national budget announcement last night (22 June 2016).

This is a reminder from the Consumer Council of Fiji to all merchants. The Council expects ethics and fair play by merchants to consumers by not increasing the price of their old stock of goods on which duty has been increased following last night’s budget announcement.

A 15% increase excise tax has been imposed on cigarettes and alcohol which comes into effect when there is delivery of new stock. If retailers are selling these products from their old stock then it must be sold at the old retail price because the duty on old stock was already paid before the budget announcement on 22 June 2016.

The Council has been receiving queries from the public regarding the price increase on cigarettes, alcohol/liquor and sugar-sweetened drinks, at dawn today.

The duty rates and other changes relating to the Customs Tariff Act shall apply to goods arriving for the first time in Fiji by ship or aircraft, after midnight, 22 June, 2016. The mentioned time and date applies to goods relating to changes to Excise Act.

The same applies to the increase excise tax on sugar sweetened and carbonated drinks by 20 cents per litre.

In other words, all un cleared cargo after midnight, Wednesday, 22 June 2016  will be charged new duty rate by Fiji Revenue & Customs Authority which will be passed on to consumers as “increase in price”.

Consumers and traders/retailers can contact the Council or FRCA for clarification on prices.