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| 25/7/08 - Cabinet revokes excise duty and export duty on mineral/processed water |
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Cabinet has revoked the 20 cents per litre export and excise duties on mineral water.
Cabinet has also directed that the Fiji Islands Revenue and Customs Authority (FIRCA) resume discussions regarding the appropriate level of compensation to be paid to the Government by the various bottled water companies for the bottling of water, on the basis of the Agreement reached with the Government and the Fiji Bottled Water Institute on the 23rd July, 2008.
Cabinet based its decision on a submission by the Minister of Finance, National Planning, Sugar Industry and Public Utilities (Water & Energy), Mr Mahendra Chaudhry.
Mr Chaudhry said that Cabinet at its last meeting had approved the imposition of 20 cents per litre export duty and 20 cents per litre excise duty on bottled water.
This policy was gazetted through promulgation No. 17 and 18 of 2008.
Mr Chaudhry said that following the Agreement reached between the Government and the bottled water companies, Promulgations No. 17 and 18 of 2008 will now be repealed and new promulgations gazetted to give effect to Cabinet’s latest decision.
He said that as per the Agreement, the water companies are to discontinue the legal proceedings they intended to take in the matter.
“Further, the government and the bottled water companies will resume discussions regarding the appropriate level of compensation to be paid to the government by the various bottled water companies for the bottling of water, one of Fiji’s precious natural National resources.
“The compensation will be based on, inter alia, global bench marks and financial circumstances surrounding the operations of bottled water companies.”
He added that notwithstanding the range of factors that need to be taken into consideration, the Government and the bottled water companies are committed to expediting the negotiations and finalizing an amicable outcome.
-End-
No.1193
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