Master plan for Suva, Nadi and Lautoka to be complete by mid-2020

The Singapore Corporation Enterprise is expected to complete the master plan for the Greater Suva, Nadi and Lautoka areas by mid of this year.

Local Government Minister Premila Kumar says once complete, the long term planning document will provide a blue print  to guide future growth uptil 2075.

Kumar says the master plan will identify the land use for agriculture, commercial, industrial, residential, tourism related activities and where it is best located.

She says following the completion of the master plan, work on the revision of the outdated  town planning scheme for municipalities such as Suva, Nadi and Lautoka  will commence

“If we have a master plan the area will be zoned. So that area, which area it can be zoned residential , it can be zoned commercial so investors whether local or foreign they can look at the scheme plan and they will know precisely that they can do business in this particular area without having  to apply for the rezoning so that’s how it will assist in speeding up the rezoning .”

Meanwhile she says the Department of Town and Country Planning had received 401 re-zoning applications last year.

Kumar says 166 re-zoning applications were received from the Western division while there were 157 applications from the Central Eastern division and 68 from the Northern division.

She says while this is a good indicator to gauge a number of land development based investment.

However she says there is a need to streamline land use and future growth of strategic areas in the country to ensure that both foreign and local investors are not subjected to cumbersome processes.

Credit: FBC

Date: 22/2/2020

FHTA raises concern about unregulated AirBnB

The Fiji Hotel and Tourism Association has raised concerns regarding the increase in unregulated AirBnB’s in Fiji.

FHTA Chief Executive Fantasha Lockington says while AirBnB’s provide similar services as hotels, they are spared from all the regulatory requirements.

“Many of them are probably doing the right thing, but our point is that they’re not regulated, they don’t pay the taxes that the tourism industry pays. They’re not having to be compliant with all the regulatory requirements, the tourism industry is and so that, that seems to us to be two standards really.”

Despite AirBnB’s and Hotels in Fiji providing the same services, the Fiji Hotel and Tourism Association sees it unfair that one is doing all the things that the country’s regulatory authorities require, and one is simply providing the service without being regulated.

Lockington says it’s important that all service providers such as hotels and AirBnB’s are regulated to ensure guests are provided a safe environment.

Credit: FBC

Date: 25/2/2020

Do Business Within The Boundaries Of The Law

Fiji Revenue and Customs Service tax officer Esala Vukinavanua presenting on regulatory requirements and understanding the customs and tax requirements at USP Japan ICT multipurpose theatre. Photo: Laiseana Nasiga.

Fiji Revenue and Customs Service tax officer Esala Vukinavanua is advising members of the public to seek the advise of FRCS when unclear about its policies.

This comes after FRCS were informed of rumors spread by people with different understandings of the tax and customs policies.

Mr Vukinavanua was speaking at the University of the South Pacific entrepreneurial fair.

The fair was held at the Japan ICT multipurpose theatre yesterday.

Business registration

“I understand that most people are believing that market vendors are not required to register for Tax Identification Number or register their business which is incorrect.

“Every business established in Fiji is required to register for a Tax Identification Number (TIN) at FRCS.

“This includes, market vendors, middle men, produce suppliers (farmers), moneylenders and landlords.

“They are also required to register their TIN.

“In some cases that we have come across, some landlords don’t have a TIN while most of them are sole owners but the issue is when they get to declare their income they don’t declare their rental income.

“People have been saying that even when you register for a TIN, some people are actually spreading the rumor that you will be taxed automatically.

“That is not correct.

“It’s always good to listen to listen from the source (FRCS) because we administer the law.

“We want to assist you, so if you hear these kind of false information and you are not sure, visit our office and we can correct it for you,” he said.

Tax types registration

Mr Vukinavanua said businesses are also required to register for other tax types where applicable

“Not all businesses may be required to register for other tax types however maybe required where certain registration rules have been met.

“A middleman is required to register their TIN and business with FRCS and declare their business income on a yearly basis,” he said.

Record keeping

Mr Vukinavanua also highlighted the importance of record keeping of business records.

“All registered business are required to keep proper records for at least seven years.

“Businesses that wish to discard records before seven years must write a request to the FRCS chief executive officer for approval.”

His message to the public: “When you do business, do it within the boundaries of the law.”

For any clarification on FRCS’s business policies on tax and registraton, Mr Vukinavanua can be reached via email evukinavanua@frcs.org.fj or info@frcs.org.fj

Credit: Fiji Sun

Date: 20/2/2020

Real Estate Agents Told To Follow Law

Delegates during the Real Estate Agents Licensing Board (REALB) 2020 Real Estate National Conference at the Pearl Resort, Pacific Harbour, on February 24, 2020. Photo: Frederica Elbourne

Real estate agents who deliberately follow the wrong side of the law were a growing worry for the industry, the Real Estate Agents Licensing Board (REALB) said yesterday.

Board chairman Abdul Hassan made the remark yesterday while addressing the participants of the second annual National Real Estate National Conference at The Pearl Resort in the Pacific Harbour.

The annual even is held to discuss challenges faced by the industry.

“Some agents deliberately choose to go to the wrong side of the law thinking they would by pass without REALB knowing about their actions and motives.

“There have been cases where performance of some agents was not up to standard and this is of great concern to the board.”

He said many trivial cases arose because of lack of dialogue.

“A few agents do not leave any stone unturned in accusing our officers of corrupt practise, and defaming the character of even board members.

“Our compliance team also receive threats when they investigate bogus agents.”

Mr Hassan said an active market in the real estate sector was a good indicator of a country’s progress.

“Many investors normally focus on the real estate sector before decisions are taken on any investment,” he said.

The last five years were marked with steady growth in the real estate industry, which demonstrated willingness to invest in the sector, he said. The REALB , a Government statutory licensing body, was established in 2006 to control activities of real estate agents and has since faced challenges ranging from lack of powers to take stronger action against those violating the law.

“To rectify some of the shortcomings in the law, the Real Estate Agents Act were revisedin 2011.

“However, in the subsequent years, further weaknesses were identified. The changes are needed on the expectations of the industry and the stakeholders.”

To address the matter, the board has since engaged in public consultations to revise the Act, Mr Hassan said.

He said the board hopes to introduce courses for salespersons in line with the industry Act.

“Hopefully, the programmed will be finalised this year.”

The day long event involved 100 representatives from the real estate industry.

Credit: Fiji Sun

Date: 22/2/2020

Real estate agents front-liners of the investment sector

The issue of unscrupulous realtors, unethical practices, shortage of affordable and quality housing must be addressed.

Permanent Secretary for Industry, Trade Shaheen Ali stressed this during the Second National Real Estate Conference adding that other issues that will need to be addressed include skilled labor shortage, natural disasters, and climate change.

Ali says real estate agents are front-liners of the investment sector and they meet investors and potential investors on a daily basis.

He says the way these agents interact with that investor determines the first impression the investor will have on doing business in Fiji.

Ali says real estate agents must conduct themselves in a business-friendly and investment facilitative manner.

He says the Government will finalize the Investment Act, which will replace the old Foreign Investment Act by this year.

Ali says the new Act will create an open and modern framework, which also reorganize and reform Investment Fiji.

Credit: FBC

Date: 23/2/2020

Fiji aims for top 50 ranking

TRADE MINISTER PREMILA KUMAR

The Ministry of Trade has embarked on an ambitious target to improve Fiji’s ease of doing business ranking.

There are plans to significantly improve Fiji’s ranking from the current 102 in the world to 50 in the next five years.

Trade Minister Premila Kumar while responding to an oral question in Parliament today highlighted that while the digital transformation is at the core of the ongoing reforms, improving business processes is critical.

“The cabinet last month approved a bold target of been ranked in the top 50 in terms of doing business by the year 2025. It now becomes the mandate of the Ease of Doing Business Taskforce to adhere their monitoring, supervisory and review role to ensure that targets are met. The taskforce will also articulate progress to World Bank group through appropriate reporting mechanism.”

Kumar says from July last year, the Biz Fiji portal has enabled the improved quality and efficiency of services, ensuring better service delivery to assist both potential businesses and established businesses where needed.

Credit: FBC

Date: 21/2/2020

FIU helps in identifying bogus agents says AG

The Financial Intelligence Unit has played a major role in helping government counter bogus companies.

They also countered for agents who wanted to enter the Fijian market.

Attorney-General Aiyaz Sayed-Khaiyum says this was one of the reasons, why institution such as FIU needed to be present and working together with other sectors to overcome financial manipulation.

He says there have been numerous attempts made by opportunists to dupe not government.

“We had also many investors that have come to the government or write letters to the government, saying we want to set up a rail system between Suva and Nausori, we want to set up some energy company. We immediately refer it to FIU and invariably that most of these organizations are bogus organizations. They have a false website, they have an address in some country that does not exist. So FIU gives that information to us and they are quite pivotal in that respect and therefore they do contribute towards ensuring that we do not allow the pernicious effect of things like money laundering.”

Sayed-Khaiyum adding that FIU actually a pivotal role in respect of the intelligence gathering and intelligence dissemination for the Reserve Bank of Fiji as well.

Credit: FBC

Date: 21/2/2020

More than $5m paid out in Mineral Royalty Fair Share

LANDS MINISTRY ASHNEEL SUDHAKAR

The Lands Ministry has paid out more than five-million dollars in Mineral Royalty Fair Share to three landowning units with 350 landowners in the last six months.

Minister Ashneel Sudhakar highlighted this during his ministerial speech on the Land Bank initiative.

Sudhakar says all land deposited in the Land Bank and later determined as a prospect site for mining will receive similar fair share royalty payout.

He also assured land owners that their lands will be put to good use.

“The Bainimarama government will ensure that any landowning unit which deposit their lands into the bank will reap the rewards handsomely. One of the successful project is the first premium the land rent payment to Mataqali Volivoli of Ketei village in Savusavu for their 100 acres of land deposited in the land bank. The Minister in December 2019 presented a cheque of $115, 700 to the five of the 14 subsistence agriculture lots. The progressive payments for the remaining nine lots will be paid out as and when received”.

Sudhakar has also assured landowners that the state is not taking away any land.

Credit: FBC

Date: 19/2/2020

Housing Authority to merge with PRB

MINISTER FOR HOUSING PREMILA KUMAR [LEFT]

The Housing Authority will soon merge with the Public Rental Board.

Minister for Housing Premila Kumar highlighted this in parliament as part of the ministry’s reforms.

Kumar says the amalgamation will make services more effective and efficient.

“First the cost will come down, secondly certain activities which is being undertaken by the PRB is also being undertaken by Housing Authority so by merging those two things it means a huge reduction in the over-head cost.”

She says also part of the reforms is the digitization of services provided by Housing Authority.

“When people put in their application, it gets lost within the system, there is no proper tracking system, so by having a automated system, customers can track their application, they can pay online, and as i said earlier on they can check their balance and their families who live abroad want to help their relatives, they can also pay online.”

The Housing Authority has already signed a Memorandum of Understanding with relevant stakeholders for information sharing to help in the processing of all applications.

Credit: FBC

Date: 19/2/2020

Businesses must comply with existing legislation

MINISTER FOR INDUSTRY, TRADE AND TOURISM PREMILA KUMAR

The Minister for Industry, Trade and Tourism says businesses will have to ensure they comply with other legislation and regulations as required by law.

Premila Kumar says the legislation and regulation includes OHS and health requirements.

“In other words, responsibility for compliance rests with the business and the relevant regulatory agencies that carefully enforce the law through various proactive mechanisms, including spot checks and penalties.”

Kumar adds the new reform also ensure a business license can be renewed for a period of up to three years by paying requisite fees.

“Under this reform, existing business will be required to notify the relevant agencies if there is a change in the structure within their license period.” 

The Minister adds as per the 2019 Ease of Doing Business Report, Fiji has dropped a rank from 101 to 102.

She says that whilst Fiji’s rank has gone down, the Doing Business Score has improved, by 0.35, as compared to a 0.04 improvement in the 2019.

This is an indication that reforms have taken place for doing business, but it is not as fast as other countries participating in the EODB process.

Credit: FBC

Date: 19/2/2020