With the country expected to contract by 3.1 percent in 2007 latest figures show that revenue collection is also below expectations.
The Fiji Islands Revenue and Customs Authority confirms due to lower then expected collections in July, collections for the first seven months amounted to $635.5 million which currently represents a decline of 1.5%.
Acting CEO Jitoko Tikolevu said the largest component of tax revenue VAT collection was also subdued and stood at $239 million as at July showing a decline of 11.3 percent from last year mainly due to the weak consumer demand and contraction of imports.
He adds that while tax arrears totaled $155.9 million up to July, indicating a decline of 5%, FIRCA is on track to reducing these arrears.
Tikolevu is confident that in the coming months revenue collection with improve through various measures put in place by the Authority.
Revenue collection declines
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