Foreign Exchange Levy for the 2019 South Pacific Games Featured
12 May 2016. The Foreign Exchange Levy (Amendment) Act 2016 (Act No.4 of 2016) was granted Royal Assent by His Majesty’s Privy Council on the 28 April 2016 and will be gazetted to be effective from 1st June 2016 to help Government finance its hosting responsibilities for the 2019 Pacific Games.
2. The Foreign Exchange Levy legislation would establish funding proceeds to assist the Pacific Games preparations for the 2019 transnational event. The new legislation directs every financial institutions, banks, and money transfer operators to collect the levy from every purchase or sale of foreign currency in Tonga and pay to Government on a monthly basis. The levy shall be assessed and paid at the rate of ‘half a seniti of the spread’ on every one pa’anga value of every purchase and sale of foreign currency effective from 1st June 2016. Financial institutions are required to keep financial records of all foreign exchange purchases and sales; from these records, each financial institution is required to pay the collected levy with accompanying returns on a monthly basis either to the Ministry of Finance and National Planning or nominated account at various financial institutions.
3. The Minister for Finance and National Planning Hon. ‘Aisake Eke stated that the ‘the proceeds from the levy is included in the 2016/17 budget and will assist Government finance its hosting responsibilities for the 2019 South Pacific Games as an important event for the Kingdom. This levy would be repealed at the end of Jun 2020 after the Games.“
4. The Ministry of Finance and National Planning have conducted consultations with key stakeholders since April 2015 to help financial institutions and money transfer operators understand the objectives of the levy, how to apply and collect it properly.
Ministry of Finance and National Planning
4 comments
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Aia koe ai e taha e fkngakau ehe puleanga Tonga e kakai Tonga nofo muli, aki hono tanaki atu ha tukuhau kiate kinautolu ihe taimi kotoa pe oku nau talafi paanga tokoni ai ki Tonga ki honau ngaahi kainga masiva. Koe fehui leva, ko hai naane oange ae mafai without consultation kihe kapineti ke nau ala kihe seniti foaki ofa ae kakai Tonga nofo muli ki honau ngaahi kainga? Koe ha e mea ae puleanga oku fai ke fkfetongi aki e fuu kavenga ko eni oku nau hilifaki atu kihe uma oe kakai Tonga nofo muli? Te nau tala ofa a o foaki e dual citizenship kihe kakai Tonga nofo muli tae totongi ihe vaha taimi ko eni kihe fai ae sipoti? Koe anga e mea, koe ai mo lohiakii mai aki e fkkavenga moe matafefeka ha kii lelei, kae oua e anga aki e ha'i kapa moe faa kole moe tipi holo he lelei oku ikai haa mou kaunga ki ai. Koe anga ia e founga e palanisi mo fair ai etau fetokoni aki.
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Nae iai e paaga moe founga ke fai aki e ngaue koeni he fakapotopotoi ehe Puleanga motua e paaga ia. Nae fai e fetongi Puleanga nae toe mai a e Reserve koe 31 miliona hopo hake pe kau fakaauha koeni o navu hange haanau lopapa ha tangaifuhu koe atunga ia e fakaanga moe lohiakii e kakai mou alu hake moutolu o kovi ohua ange ha toe Puleanga ki mua. Pehee pe e Lavulavu ia koha paaga haane faetangata toutou malaga maalie pe ia i Kapineti tui ai pe Kapineti a E Kakai fuu poto koena ko Sovaleni to pe ia Lavulavu. Koe Kelea ne star ai a Lavulavu he kuohili he uike kotoa koe taimi ni kuo hange pe a Lavu ia ha foha o Akilisi.
Taimi ke fakatatafi atu e ai levy ia koeni he oku fekeikei e fokotuu Komiti ia kuo support ehe Minisita Sipoti ia a Akilisi e Feao Vakata a e Komiti a Feleti Sevele kae ikai support eia e Komiti foou oku Sea ai a Akilisi. Kuo kikila ahoaho e ngaahi fe'unuaki holo pea oku fakavaleloto. Pango he oku vikii pe ehe kau taetotogi tukuhau lahi ia e faahinga move taamate koeni oku fai e Akilisi. Fai mo tala kihe kakai kuo osi homou u vouti kotoa i he tau kuoosi pe he lahi e folau ko e Tokoni Palemia ia kuo lahi ange ene folau ana hono tau motua. Ko Akilisi ia ku toe fkmole fonua ia hono ave holo hono foha koe neesi kiai ku pehee ha ofa fonua？Ke toe lahi ange fakamole ia moe corruption ho taimI Akilisi？ -
Oku tau fakame'apango'ia 'I he faitu'utu'u ni 'a e tokosi'i ko 'eni pe koe Pule'anga ke nau ala ki he kakava 'o e kakai 'oku nau takitaha feinga ma'a hono nau ngaahi famili I muli mo tokoni ki honau kainga 'I Tonga ke nau ala 'o 'ikai ha kole ki he kakai ko'eni kimu'a pe consultation moe kau Tonga nofo muli pe oku nau loto ke kau 'enau pa'anga tokoni ki honau famili hono alasi koe'uhi koe teu 'o e Sipoti ta'e 'uhinga ko'eni..
Na'e tu'u hake pe a e Pule'anga motu'a mo hono kau tangata o fakakaukau ke fakaafe'i mai e Sipoti ko'eni ki Tonga ta'e ha kaunga kiai 'a e kakai o e fonua pea nau tala oku 'Iai pe paanga a e PUle''anga fe'unga pe ke langa e venues mo fakalele a e sipoti ni... Osi ange pe koia kuo nau ala ta'e 'iai ha'anau totonu ke to'o e inasi mei he 'ofa moe kakava 'oe kainga Tonga oku nau si'i feinga ki honau ngaahi famili taau taha.. Malie koe talanoa mai 'oe lau kilu 'enau vahe kae ta koe 'uhinga tefito ia 'oe kole oe sipoti ni ke fai ki Tonga kae kamata ha ki'i polokalama tanaki pa'anga e..
Malie lahi Tonga... -
Kuo pau ke fai ae Kalusefai ka tau laka moe KUONGA