THE reduction of VAT on August 1 will not only help businesses but the average person as well, says Nadi Chamber of Commerce and Industry (NCCI) president Lawrence Kumar.
Mr Kumar reiterated the 2025-2025 National Budget was a deficit budget, adding that government would need to be innovative on mitigating it.
“So, in actual fact, the reduction of VAT on August 1 it actually will not only help businesses but the average person as well,” he said.
“When I say average person, it will give them a bit of bargain power and it will help them in their coffer as well, there would be a bit of savings in their coffer, and they would be able to buy a bit more.”
Mr Kumar said business houses had welcomed the budget.
“From meeting the businesses houses in Nadi, and the calls I’ve been getting, people have actually welcomed the budget.
“What we need to do — is we need to see how it gets realised. It’s all about bringing it into action and ensuring these costs that is getting saved out is being passed on to the consumer.
“And which is all part of monitoring I would say, Fijian Competition and Consumer Commission (FCCC) will play a vital role in ensuring that the monitoring part is prepared.”
