Home » Uncategorized » How to talk rubbish! High VAT refunds indicate that businesses are operating at a cashflow loss. The exception is if there has been a major injection of capital purchases which is unlikely.

How to talk rubbish! High VAT refunds indicate that businesses are operating at a cashflow loss. The exception is if there has been a major injection of capital purchases which is unlikely.

THE Fiji Revenue and Customs Authority had issued an additional $35.9million value added tax refunds from July to December last year.

This was despite revenue collection exceeding the forecast by $34m as of June 2013 to support business cashflows.

FRCA chief executive officer Jitoko Tikolevu said the refund had created further economic activity as additional cash had positive impact on business operating cycle.

“Total VAT refunds issued by FRCA last year were $265.4m, which was 32.2 per cent higher than that of 2012,” he said.

http://www.fijitimes.com/story.aspx?id=258195

Advertisements

3 thoughts on “How to talk rubbish! High VAT refunds indicate that businesses are operating at a cashflow loss. The exception is if there has been a major injection of capital purchases which is unlikely.

  1. A classic example of FRCA biting the hand that feeds it. Fanciful desperation by Tikolevu to meet his revenue projections and his KPI’s.

    Meanwhile the economy is in slow mo because there is no new money in circulation.

  2. Unfortunately some investors perceive Fiji as a high risk destination. They stay away from this great place not seeing the fantastic opportunities: As long as you pay Khaiyum his dues (usually 10%) your investment is not only safe in Fiji, it will also generate returns that other places where the media snoop around every deal can only dream of.

  3. People of Fiji never vote for Bainimarma as a vote to him is a vote to Khayium.

    The country has been taken 50 years back whilst these thugs continue to fill their pockets.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s