February 28, 2011

Military Regime's best laid plans (targetting Fiji Water) go awry

Ripples are being felt within the national coffer custodians because the heavy-handed leaning by the illegal and treasonous military regime, explicitly targetting Fiji Water and manipulating via illegal laws to get Fiji Water to fork out more has not gone their way.

Firstly, Fiji Water is the only mineral water company in Fiji that have meters installed at their bore holes in abiding by the legislation of measurements taken at "extraction point" which records how much they extract in a day, month, year etc. The other water companies submit documentation to FIRCA outlining how much they actually produce and then that amount is equated to tax payable by FIRCA. The use of 2 different extraction processes are not only unfair and unequal, but is a system wide open for exploitation where the other operators are concerned.

Now it has become apparent that the regime were anticipating a monthly payout of FJD$1Mill or so from Fiji Water, to kickstart their coffers this year, and they were sorely disappointed to fall short. Waaaaaaay short. Undoubtedly this will impact their revenue projections.

Why? Simply gross incompetence in the drafting of the amendment legislation as circulated shortly after the budget announcement last year, which did not make explicit whether it should be read with the orginal water table tax in the substantive legislation, or whether it was to replace the first water table tax altogether.

This dear folks, is the state of ineptitude of the people guarding the national coffers under the guidance and Chairmanship of the illegal and treasonous Pio Tikoduadua.

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