The Fiji Export Council, which has a majority of apparel and footwear industry members registered under the Duty Suspension Scheme (DSS), considers the scheme as the best vehicle for achieving export growth.
The scheme which has been in existence for several years now, was evolved to help the exporters relying on imports of raw materials. The scheme allows duty free import of goods in the country, subject to the condition that these would be used for producing goods meant for exports.
However, membership under the scheme is not mandatory and the exporters are free to make a choice from opting for the scheme or any of the other alternative concessionary plans like Duty Drawback Scheme or Tax-Free Factory (TFF) Scheme.
In all, 53 members are registered under the scheme with the Council, of which 66.7 percent belong to the clothing and footwear industry. Under the scheme, the member earns import duty credit and VAT exemption for every dollar earned from export, which is popularly known as Entitlement Proportion (EP).
The DSS membership is available to the firms which already qualify or would have qualified for concessions under the TFF or the Duty Drawback Scheme.
The scheme is also open for participation to new exporters. Moreover, the firms which ship in raw materials to further process them into goods or articles that other firms use for preparing export items, may also be considered for registration under DSS.
The Fiji Export Council (formerly known as Exporters Club) was established in 2002 primarily for the administration of the DSS for the Fiji Islands Revenue and Customs Authority (FIRCA). The present name was adopted in 2007 to expand the Council's roles to ensure that the national export diversification and promotion drive succeeds.
Fibre2fashion News Desk - India
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