Posts tagged 2014

AG Aiyaz Saiyed-Khaiyum at Unit Trust of Fiji

Attorney-General Aiyaz Sayed-Khaiyum closed the 2013 Constitution & Legal Ethics Workshop

Double Taxation Agreement (DTAA) with Indian Government will be big boost for Fijian economy

Fijians can look forward to a significant increase in the amount of Indian investment in the country after the Attorney-General and Minister for Industry and Trade, Aiyaz Sayed-Khaiyum, yesterday signed a Double Taxation Avoidance Agreement (DTAA) with the Government of the Republic of India.

Speaking from New Delhi, India, the Attorney-General explained that the DTAA will prevent Indian investors from being taxed in India on business profits earned in Fiji, making it much more appealing for them to invest in the country, growing the economy and creating jobs for ordinary Fijians.

He said the same is true for Fijian investors in India.

“This agreement has the potential to seriously boost the Fijian economy by encouraging a stronger flow of investment, technology and services between Fiji and India, one of the world’s largest and fastest growing economies and the second most populated country in the world,” he said.

The Attorney-General said that with this agreement in force, the generous investment incentives offered by the Bainimarama Government would be much more attractive to Indian investors, ultimately leading to more jobs for ordinary Fijians.

“With the signing DTAA, now, Indian investors have clear and transparent rules regarding taxes, bringing about surety and certainty,” he said.

The Attorney-General said that this agreement will also help prevent tax evasion and false investor declarations.

“The agreement signed with India is fair, balanced and progressive, unlike agreements we have with some of the other countries,” said the Attorney General.

“The Indians have been most accommodating. The DTAA spares Fijian students that are studying in India from paying taxes, if they choose to work whilst studying. Under the DTAA, the Indian Revenue and Tax Authority will assist FRCA to recover any taxes owed to Fiji, by individuals or companies residing in India,” said the Attorney-General.

The CEO FRCA, Mr. Jitoko Tikolevu, Permanent Secretary and for Industry and Trade, Mr. Shaheen Ali, Fijian High Commissioner to India, Mr. Yogesh Karan, Chair Investment Fiji, Mr. Truman Bradley and Deputy Secretary Industry and Trade, Mr. Maciu Lumelume were present with the Minister for Industry and Trade, during the signing.

MEETING STRENGTHENS TIES BETWEEN FIJI AND MAURITIUS

The Attorney-General and Minister for Industry and Trade, Aiyaz Sayed-Khaiyum, met the Mauritian Minister for Industry, Commerce and Consumer Protection, Sayyad Abd-Al-Cader Sayed, in Bangalore, India on Monday, 27 January 2014.

Both Ministers were attending the Confederation of Indian Industry (CII) Partnership Summit 2014.

During the meeting, the Ministers agreed to finalize a Memorandum of Understanding (MOU) between their two Governments, which will allow close cooperation between Investment Fiji and the Mauritian Bureau of Investments.

The Attorney-General said that the meeting will enable both countries to develop relations between their respective Government agencies and encourage mutually beneficial opportunities.

“The MOU will facilitate close collaboration between Fiji and Mauritius in facilitating investments and will drastically improve the ease of doing business,” he said.

He further mentioned that Mauritius has already developed and implemented its restructure program over the past two decades and since both Mauritius and Fiji have similar demographics, the possibility of working with Mauritius is encouraging.

The Attorney-General said that the Fijian Government had embarked on its own comprehensive set of political and socioeconomic reforms, which were bearing fruit.

“The aim is to ensure sustainability and consistency of policy in order to make a difference to the lives of ordinary Fijians,” he said.

Both Ministers also explored the possibility of enhancing cooperation and collaboration within the sugar and tourism sectors.

The Attorney-General briefed his counterpart on Fiji’s path to democracy, underscoring the assent to Fiji’s new Constitution on 7 September 2013 and the preparations for the up-coming election, to be held by the end of September 2014.

The Minister from Mauritius conveyed his congratulations to the Fijian Government for the “substantial and progressive” steps taken develop Fiji, which will culminate in democratic elections that will take place this year.

The meeting ended with both Ministers agreeing to finalize the MOU on investment cooperation and to develop bilateral relations further.

Attorney General and Tourism Minister Aiyaz Sayed-Khaiyum presents Fijian Host of the Year Awards

Attorney General Aiyaz Sayed – Khaiyum meets Sigatoka citizens

Fijian Attorney General Aiyaz Sayed Khaiyum, and all seven members of the Electoral Commission

Fijian AG Aiyaz Sayed-Khaiyum hands over vehicles to Fiji Commerce Commission

Attorney General Aiyaz Sayed-Khaiyum receives Vehicles & Electoral Commission announced