Tappoo Group of Companies has described the 2020-2021 National Budget as an ‘admirable, bold, and a path-breaking budget.’
In a statement, Group Director Mahendra Tappoo says the budget has sweeping economic reforms which lay a solid foundation for economic recovery and future prosperity.
The statement goes on to say that the flow-on benefits of these economic reforms will only be fully realized in the years to come.
The steps taken in the National Budget 2020-2021 are steps towards a liberalized and modern economy which is a proven formula for economic success in advanced economies.
Group Director Mahendra Tappoo says the Budget includes stimulus packages, relief for employees, investment incentives, removal of bottlenecks for trade and investment, the introduction of a more simplified system of doing business removal of bureaucracy and much more.
The tax cuts, incentives and reforms in the tourism sector will make Fiji more competitive against intense international competition post-COVID-19, with huge flow-on benefits to the entire economy.
Unprecedented duty reductions will result in lower prices across a huge range of items in supermarkets, stores, showrooms, and everywhere, across all categories.
This, Tappoo says will create a highly competitive environment across all trades and businesses resulting in significant benefits to the consumer.
Tappoo has confirmed that the Group has not terminated or laid off any employee despite unprecedented financial challenges due to closure of airports and hotels and the closure of tourism industry which the Tappoo Group is an integral part of.