Chamber proposes virtual zones

The Fiji Chamber of Commerce has proposed that separate tax packages be implemented for the country's resource based and information technology sectors.

The Chamber has called on Government to move away from the traditional concept of tax incentives designed to cater for industries along the lines of physical localities.

The Chamber believes that the introduction of virtual tax free zones for the agricultural sector would lead to greater participation and economic growth. It said that since Fiji was agriculture-driven, the possibility of greater economic growth lay in the nation's ability to develop its resource-based sector. Such an incentive is expected to improve the indigenous community's role in the nation's economic activity.

Virtual tax free zones would ensure that everyone in that particular sector enjoyed the benefits of such packages, irrespective of the location of business.

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