Fiji retailers censured for not displaying VAT inclusive pricing
- Apr 24, 2014 | Richard Asquith
The Fijian Consumer Council has warned retailers that they must include VAT in their public price lists.
Many retailers are still in breach of the VAT Decree 1991 which obliges all prices to be inclusive of VAT, and not to have prices shown Gross (without VAT). This is so as to prevent unfair competition where retailers are seen to trick consumers until they reach the till or online basket to pay for their goods or services. The real estate market was singled out this month as being one of the worst offenders in this regard. Overlooking any VAT can add many thousands to the purchase price.
The current standard VAT rate in Fiji is 15%, having risen from 12% at the start of 2011. There is a VAT registration threshold of FJ$ 50,000, but persons providing taxable supplies may register on a voluntary basis below this amount.