Caption: FRCA CEO, Mr Jitoko Tikolevu formalising the MOU with PS Lands and Mineral Resources, Mr Tevita Boseiwaqa.Photo:SUPPLIED.
The collection of stamp duty from transfer of land, lease agreements, mortgages and building contracts will now be undertaken by the Fiji Revenue and Customs Authority (FRCA).
A Memorandum of Understanding (MOU) was today signed between the Ministry of Lands & Mineral Resources and FRCA in Suva, which outlines the processes and procedures for the collection of stamp duty.
Speaking at the signing, FRCA chief executive officer, Jitoko Tikolevu said the MOU allows for an effective collection of stamp duty by the organisation.
?From government perspective,?this MOU brings?about a more centralised and effective way of the collection of taxes. We are very grateful for the opportunity to collect the stamp duty which should cut out the unnecessary steps involved in the collection,? Mr Tikolevu said.
Mr Tikolevu said FRCA will ensure that the administrative burden on stakeholders, particularly the public at large, is minimised after they take on the role of stamp duty collection.
Ministry of Lands and Mineral Resources permanent secretary, Tevita Boseiwaqa said this is part of the reforms taking place at the ministry.
?The process that we are going through is quite expensive in the sense that it takes a lot of time and it affects our delivery of service. With this MOU, we will save cost and time and deliver the services that we are required to deliver to our various stakeholders,? Mr Boseiwaqa said.
Mr Boseiwaqa said today?s signing is the beginning of a partnership with FRCA in other areas of common interest between the two institutions.
?Most of these require personal attributes from those who are going to implement the collection. There is a need to have trust, the need to have negotiation skills and the need to communicate well.?
The collection of stamp duty by FRCA will be effective from tomorrow.