Fiji: FRCA Clarifies Cigarette Price

Source from:  Fiji Broadcasting Corporation‎  11/28/2012

Fiji Revenue and Customs Authority has clarified that only shopkeepers with new cigarettes stock can increase cigarette prices.
 
This is if they've sold off their old cigarettes stock –prices of which reflected the old duty rates.
 
FRCA CEO Jitoko Tikolevu told FBC News this morning, if shopkeepers have been supplied with new cigarette stock and bought them from British American Tobacco at an increased price this week, they can increase their packet prices by 10 percent as stipulated in the 2013 budget.
 
Tikolevu however says, they are only after retailers who increased their cigarette prices immediately after the budget announcement when they still have old stock on their shelves.
 
The FRCA CEO says, the old stocks were priced to the old duty rates and it was wrong for retailers to charge the new rates on them.
 
FRCA is investigating at least three retailers in the Western Division who increased their prices of old cigarette stock.
 
FRCA has gathered these retailers were selling a packet of cigarette a dollar more.
 
With the new duty rates, a packet of cigarette should only increase by ten to fifteen cents.
 
It's also keeping an eye on businesses that won't reduce prices despite a reduction in import duty. Enditem