The Minister for Finance and National Planning, ‘Aisake Eke says 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.
The levy would be repealed at the end of Jun 2020 after the Games.
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 1 June 2016.