The Fiscal Review Committee recommendations caused more harm than good to Fiji’s economic recovery where the poor were punished and a selected few were rewarded, says Opposition member Premila Kumar.
“For example, those earning more than $270,000 had a reduction in personal tax, and their social responsibility tax was removed, causing a revenue loss of $2.2million,” said Mrs Kumar.
“Who benefitted – the rich? Lawyers and accountants, CEOs, and company directors were the beneficiaries.
“Figures don’t lie.
“There are preliminary indicators of our economy hitting the brakes.”
She said despite increasing taxes, duties, and levies, revenue collection was down.
“There is a noticeable slowdown in consumption and new investment lending, and the slow uplifting of approved bank loans.”
