1 May 2007

Fiji tax row with NZ developer resolved

8:31 am on 1 May 2007

Work has resumed on the 300-million US dollar Momi Bay Resort project near Nadi after a row between its New Zealand developers and the Fiji Revenue and Customs Authority was resolved.

The Fiji Times reports that the developers Matapo Limited have confirmed that work resumed last week but refused to discuss the taxation issue.

Matapo Limited halted the project after the Revenue and Customs Authority ordered the company to make an undisclosed payment as determined by an advance tax assessment.

The revenue and customs chief executive Tevita Banuve has refused to discuss the tax deal, saying the issue was a private matter.

Media reports in New Zealand said 18,000 New Zealand investors were affected by the tax row.