The Reserve Bank of Fiji announced today the introduction of an Amnesty period for exporters who have yet to fully reconcile their outstanding exports receipts with the RBF.

Exporters are required to return all proceeds from their exports to Fiji within six months of the date of shipment this is under the Exchange Control Act, which is administered by the RBF.
 
Governor of RBF, Sada Reddy said the amnesty will allow exporters that have fallen behind in confirming the receipts of their export proceeds to regularise it with the RBF.

Exporters are directed to furnish details of their outstanding export details by either providing bank confirmation of the export proceeds, or to be certified by a chartered accountant that funds have been received in Fiji.

Reddy also advises that exporters correct and amend their income tax return to correctly reflect any under declared export proceeds to FIRCA during this period.

Under the Exchange Control Act, Exporters who fail to comply within the amnesty period, can upon conviction result in imprisonment or a fine or both.

The Amnesty comes into effect immediately and ends on 30th October, 2010.