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Controversial FX Levy suspended until next year

Monday, November 23rd, 2015

TCCI and Association of Banks Tonga (ABT) have attended a couple of meetings and made submissions re the FX Levy.

In a meeting on the 6th November, in which the Hon Prime Minister was the Chairperson and attended by 5 of his cabinet Ministers it was obvious that there were differences in the interpretations of the calculations and that more clarifications were needed. The meeting also noted the tentative date for the Regulations to be effective from Friday 20 November 2015 and that input from the ABT and TCCI will be sought on the Draft Regulations.

Comments on the Draft Regulations from TCCI and ABT were submitted on the 19th November and have been tabled by Cabinet.

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