#header-inner img {margin: 0 auto !important; #header-inner {text-align: Center ;} Fiji Coupfourpointfive: Source: tax claims of up to 55% behind Reddy Group success

Friday, July 1, 2011

Source: tax claims of up to 55% behind Reddy Group success


Tanoa Tusitala Hotel Samoa. Below left YP Reddy

Coupfourpointfive readers were introduced to businessman YP Reddy in recent weeks, via a story highlighting a $5 million civil claim against him plus a call by some for the illegal regime to move on Reddy for fraud amid speculation he is being spared because of his friendship with Frank Bainimarama. Background information from well-placed sources now reveal Reddy is one of the 'business elites' who have cunningly worked the system and who has benefited through something as simple as dodgy tax claims. The Reddy Group started out as a family construction company but now operates hotels, financial investments, real estate and insurance. YP Reddy has held many directorships on government and state owned companies such as Fiji Electricity Authority, Fiji Development Bank and Fiji National Provident Fund and is a life member of the Fiji Hotel Association. He has also received the lifetime achievement in excellence award for tourism in Fiji in 2000 and is a former chair and current trustee of the NFP.


Yanktesh Permal Reddy(or YP Reddy as he is more commonly known) appears to have built his six hotels in Fiji through Tax scams from the Hotel Aid Act (HAA) amended over the years and currently known as Income Tax Act Schedule 11 Decree 2009. 

Just like other major Hoteliers, YP Reddy has been providing  favours to Government for favourable tax claim approvals such as Sponsoring the MSG Spearhead Group Meeting a few months ago in return for favourable Tax claim approvals.  It is a big scam involving players from all political camps, different ideologies but all united under this scheme because of the returns they offer. It is bigger than the Agricultural Scam and involves reputable accounting and legal firms and major players in Australia and New Zealand.

Through this tax claim of building and renovating hotels, they claimed back 55% of the cost of the building and maintenance, minus the cost of the land and furniture. Through the 55 % Tax Claimable Allowance under the Income Tax Act Schedule 11 (earlier known as HAA), this manipulative elite group of hoteliers and businesses literally built their empires from Government Revenue Claim Funds at FIRCA.

According to well-placed sources from FIRCA, they collude with hardware shops and work contractors/consultants and accountants to put up the prices so that the Tax Claim of 55% (over the next eight years of loss) of the total cost used in the building or renovating of the hotels are so high, they can clear their mortgage and then have extra funds spared in the kitty for other self-interests and to reinvest or be siphoned overseas.

Sources say YP Reddy and the likes in the Fiji Hotel and Tourism Associations (FHTA) are all guilty of the practice. Sources say they have influenced the Government System so much and have been key advisors to past Governments and are now also advisors to this Government in the write up of the country's Fiscal Policies and the finalization of the Annual Government.

There have been coup in and coup out with numerous Governments changeovers but these players remain the same; and they quietly manipulate our political and financial systems including our media outlets to serve their propaganda.

Their current move is to aim for a land grab through the Land Bank and to acquire as many Land and Government State Companies as possible in order to continue with their so called “Investments” that Fiji people we are not aware are funded by Government Funds. They would rather public and the civil servants be paid from the FNPF while they (businessmen and  hoteliers) manipulate our Revenue Base at FIRCA through such Tax claim laws while the rest of Fiji operated from the FNPF Funds and overseas loans of millions and millions of dollars.

Sources say the dictator does not have a clue of what is happening despite all the warnings that have been provided  by the different intelligence groups with many saying the relevant information has been manipulated by the illegal attorney general, Aiyaz Sayed Khaiyum, by the time it reaches him.

Our key source says what needs to be noted from this revelation is that:

1) Certain hoteliers in their own lifetime, remember not their fathers, or grandfathers, but just one person’s lifetime like YP Reddy have acquired apart from the overseas hotels the following local hotels; Nomad Skylodge Hotel-Nadi, Tanoa International Hotel-Nadi, Tanoa Apartments-Nadi, Tanoa Rakiraki Hotel, Tanoa Plaza-Suva and Tanoa Waterfront-Lautoka. Considering the inflow of tourism numbers over the years and the expenses of operating a hotel with wages etc, it is quite an unbelievable feat for someone to have gone this far. In 2009 (facts and proof will be provided in the right forum), YP Reddy just painted and did some minor repair works yet claimed 55% tax allowance of over the next eight years loss at a total of $100,000 from FIRCA for the Rakiraki Hotel kitchen. Those who have been to the hotel will know that, it is just the kitchen, not the whole building of Rakiraki hotel or the dining room but that small spaced kitchen that was renovated.


2)  The Commerce Commission Hardware Prices Investigation was undertaken after a Report on the Tourism Revenue Status and the Tax Scam was exposed to the Peoples Charter committee.

3) The Accounting Monitoring Body that was setup last week by Government is also a direct result of this exposure.

4) The biggest loser in Fiji’s Tourism Industry are the Landowners as they collect only $4.7 million in (5% Gross) Land Rent from the estimated $900million Tourism Revenue for providing the Land for Tourism with the free Qoliqoli. (Source NLTB)

5) The second biggest loser is Government with only $24 million (5%) returning to Government’s Revenue base through HTT (Hotel Turnover Tax) from all that Tax concessions been allowed. (Source FIRCA). Even for one hotel development,  Naisoso Island Development has been granted $426 million Tax Concession in 2009. (Source Ministry of Finance). Imagine the Tax Claims of the rest of the 334 hotels. What is the use of such Fiscal Policies when the return is such a small amount of Governments Revenue of only 1% contribution by Tourism (Source FIRCA). This is not to mention the annual Tourism Fiji (Fiji Visitors Bureau) marketing grant of $24 million and its non-transparent utilisation.

6)  Accountants of these hotels provide two sets of Books; 5% gross to NLTB of only $4.7 million and 5% to Government of $24 million in 2010. Something is amiss here. If it is both 5%, then they should both have the same figures. Who is hiding something here?

7)   If 5% of HTT is $24 million in 2010 that have been taxed by Government, then 100% is $480 million. So where is the estimated $900 million announced by Reserve Bank go to? The majority of tourism funds stay overseas and the rest goes back as Leakage through the payment of the suppliers of hotel operations.

8) In 2009, the total of the Tourism Concession given to the tourism industry was $1.4 billion compared to the Revenue that was coming in of $22 million HTT (Hotel Turnover Tax). What is the justification for this with all the low wages, low land lease etc, high leakage, high environmental impact etc where are the benefits of Tourism that have been harped about?

64 comments:

  1. this too much information for bainimarama to digest....he wouldnt have the slightest clue of whats happening......bloody sad state of fiji's affairs......white collar crime at its best......vakaloloma ga na i taukei....

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  2. Isa Lei tata going gaol,can we join the mourning camp

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  3. This is to vore and taliban what is happening to file "CID/HQ/PEP/28-2010".can you confirm as to when the criminal chargers will be laid against tata.

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  4. We read what is happening Y P Reddy .
    NFP trusty mafia.
    Where is FICAC .
    AG/BAI controls ficac/police/army.
    Bai /AG -where is clean up or all cover up.

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  5. This is not good.

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  6. Finally C4.5 - you're beginning to get to the bottom of all the coups in Fiji! We tend to focus all our attention/discussion on the dingbats who have fronted the coups Rabuka/Speight/Bainimarama (and Khaiyum)but we have never really exposed the real instigators who have always remained in the shadows and who have successfully manipulated the military on every occassion. On each of those occassion they have managed to find convenient rhetoric to dress up and hide the real intentions of those involved - pure and unadulterated GREED! YP Reddy won't be alone - expose the whole damn lot of them please. There have always been a core of people who have always remained steadfast in their opposition to ALL coups. It is really sad that some in the group got persuaded in 2006 to buy into the so called "clean up campaign" but hopefully they are now beginning to see the light. Those who remained steadfast in their opposition(Jalal/Richard Naidu/Shamima Ali/Leoung/Maidraiwiwi and a few others who have been steadfast since 1987)of coups through thick and thin have been brutalised enough and have paid such heavy personal prices for their unwavering conviction. They are weary and can no longer hold up the democracy candle. Fiji will only get out of this current mess when those others who used to belong to this group (Shameem sisters, Jane Ricketts, Iqbal Jannif, Jokapeci Koroi, Dakuvula, Vijay Naidu, Prue Rouse, the Burness's etc) wake up and realise what fools they have been and begin to criticise the current beast that they helped create. Sure, some of us might say you get what you deserve but for the sake of the masses of poor people in fiji whose voices have been virtually removed in every way and who do not have access to internet to get a more balanced view of what's happening, you MUST speak out. Surely you're all beginning to see the wood for the trees now!

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  7. is this a sign of fall-out between aiyaz and cmmdr

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  8. Thanks c4.5

    Fiji has indeed been raped left and right by these maggots.

    And comes along Vore and as expected, dips his snout into the soupy trough.

    Previous Govts are equally guilty. We need a complete turn around in Fiji. A no-school dictator like Vore who leans on a bigger crook like Eyearse will lead us further into the hell hole of corruption.

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  9. Pay your tax chor, before you die please.

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  10. Note taken with thanks!....now we know which hotels to whack when the time comes.....tiko e keri....

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  11. Thank you C4.5 Thank you to your source too.
    Wonderful job.
    I've always wondered about this discrepancies between government announced tourism Revenue compared to what we can actually see on the ground.
    Now we can see how they've
    defrauded the Landowners
    defrauded their employees
    and defrauded the Government ( in effect defrauding the lovely people of Fiji - whose smiles they take advantage of in their advertisements)
    -Now we also see that the Hardware shops are in collusion with this fraud.

    All these people must be investigated and be made to pay back every single cent. On top of that they must be Fined ( millions of dollars)
    Their Hotels should be seized and sold to retrieve the money

    Get a Fraud Squad from Australia or America to help our local Police.

    Thank you to everyone who revealed this information.God bless you.


    -Valataka na Dina.

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  12. All these hotels were in place prior to 2006 so VB cannot be entirely be blamed for this.Blame the corrupt past governments and its ministers.Iam no coup supporter neither Iam a supporter of VB.All I desire in Fiji is a fair and just society where everyone is equal and not judged based onthier ehtnicity,race or religion.The major cause of Fiji's problem is racial discrimination which was brought about by the 1987 coup.The indigenious community is not be entirely blamed for this.The seeds of the 1987 coup was planted by the rich Indian Businessman who were staunch supporters of the Allaince Party.They manupulated the Fijians and that was it.This fight for democracy should not be based on ethnicity.But alas that is what is really ahppening today.Just look at the number of democracy movements formed in Aussie and NZ.To all those fly night leaders I urge you to sit down and think hard.Ask your yourself if you are really genuine or another of those get rich group of thugs like the current regime.Than only true democracy will come to Fiji.And to the bloggers of this site.Why are you only posting negative comments about the current regime?By doing this you are no different than the current regime with their PER and media censor.Let the readers see and judge for themselves.The was you guys are painting that AK is the mastermind this is the exact stance taken by the extremist when they chanted that Bavadra was the boat and Reddy the captain.This is all racist.Please get away from this and start some constructive dialogue.

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  13. Why the alarm...the Rear Admiral may have no control over this Century old Institution where many of our elites are members of…Both previous Military and Special Branch Intel would just scrap the top and may have not been able over the years to penetrate into these well oiled machinery of the brotherhood.

    It is very hard for any member to dob in a fellow brethren, for they allegiance is and will always be to their fellow brethren, first and foremost, and to family, church, vanua and other after.

    Yours truly have many business and political party acquaintance and compatriots who are members of the brotherhood…many, Christians, Hindus, Muslims and Atheist, former Prime Ministers (NOT Major General SLR), MP, Academia..even Priest, Pundits etc

    It is rumored that with the well placed lay Jesuits…yep…the Freemasons (though undertake numerous benevolent and humanitarian work globally) rule the economic world…and have been known to influence the drafting of many sovereign constitution (as in the Solomon Islands pre-RAMSI)

    ..Coup come and go..Government change..they remain..

    So YP may deem to break moral Law, however may be vindicated by the same Tax law..

    ….mmmmm….more to life than what meets the eyes…..

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  14. This is the first time that somebody has freely written about the rot of the system by businesses in Fiji. It is this type of dealings that has facilitated the coup culture - its time to expose the others and the biggest fish still to fry are the Tappoos( AG supporter),Punjas (Regime Supporter) and Vinod Patel (anybodys supporter as long as $$ is made).
    Great work - 4.5, now please start on the others as well.

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  15. Oi lei the Prime Minister that shit in his pants at the accountants meeting at the Fijian Resort...this is way over his head!!!!

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  16. Its a crazy posting. 55% claim is enjoyed by all the hoteilers in Fiji and not only Mr reddy. So why pick on him only

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  17. Y P Reddy is corrupt.

    This needs some serious investigations.

    Can we have some more follow ups on this please.

    This is a really serious matter..

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  18. Some policies made by previous govt's have become an Act of Parliament.

    In that Act of Parliament the 5% tax on gross revenue is law. That law is breached where $900m turnover equates $45million to Govt in tax, but are paying only $24m.

    Therefore $20m underpayment from a handful equates a bigger SCAM then the agriculture scam that was declared by High Court to having advantaged on the votes in the elections.

    And also the Fijian people who Frank is trying to impress have been deprived of millions and in this case $40m per annum if the figures are correct as it totals from $900m.

    Or is the difference of $24m to Govt with $4.7m to landowners is because only $4.7m equates to hotel turnover tax for the hotel sthat are on the native leases, hence the difference?

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  19. Can others reveal more on YP Reddy.. HE HAS BUSINESS IN.

    LETS SEE IF WE LODGE A POLICE COMPLAIN IN NZ.

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  20. BINGO!!! Thats what we want. Now RUM and JB's theory will be tested ie: only one person instigated the coup in 2000. OK C4.5, we like this thread, lets get the Punjabs and the Gujrats and sons of coolies out in the open. We the itaukei need tosee all this. As well, the church leaders and current players. IT MUST COME OUT!! No wonder the hotel association was pushing for rights change to owning the 'iqoliqoli' beach fronts etc etc - to avoid villigers from foraging in their fishing ground. Kepp up the Excellent work C4.5!!!!

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  21. This is some serious allegations and C4.5 better have all the proof!!!

    But well done guys!

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  22. just put YP in Jail along with kanti Tappoopoos. Get YP to build a wing at Suva Jail and charge them a room rate per night of $5000/night. No room service , no TV. give them prison food, give them house keeping duties.etc. this should pay off the debt. lock up the bastards. they are all common thiefs afterall.

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  23. This is massive corruption and tax scam and money laundry by Y P Reddy, he must stand trial.

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  24. When Democracy is restored, the Hotel owners should be taken to court and made to hand over their hotels as recompense for any money stolen from the public purse and the people responsible, jailed for a very long term, and when released, thrown out of Fiji never to return.

    Don't damage the properties because they will become Fiji's lifeline in restoring the Economy.
    In fact if anything, a special elite unit should be established to protect these Hotels etc. and maybe the various landowners and clans and villagers can organise that with their Chiefs, in advance, so their future livelihoods are protected.

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  25. Corruption, fraud, and nepotism are a 100 times worse now than when the illegal regime took over. So much for the Dictator getting rid of this illegal behaviour in FIJI. They have messed up and have failed the FIJIAN PEOPLE.

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  26. vinaka C4.5, now the real actors are being exposed. YP Reddy & family, may u rot in hell!!!

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  27. These guys will go to bed with whatever political power that's in play. They do not have any real and clear political conviction. YP, Punja, vinod Patel, Dewan Chand, and that Chinaman in Kadavi VKB Jim Ah Koy etc, they go with Rt Mara, Rabuka, Chaudhary, Speight, Qarase and now Bainimarama.

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  28. Y P Reddy its time now that you confess all your sins and admit to the nation that you are the biggest crook of all time in fiji.how long can you hide in epsom [nz].justice Denial Goundar will not send you for too long after all you are TATA.

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  29. Note again FICAC is not investigating this. Why? Because FICAC is under Aiyaz. FICAC will only act when they are told to investigate.

    Meanwhile FICAC is only investigating enemies of the regime or people not towing the line How disgraceful. Another front which wreaks a totally dysfunctional Administration.

    Wake up frank. The country is in tatters.

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  30. Jakes says....

    Luaraka mai boy..

    many more to come....BUT people remember the biggest losers will be your retirement money

    Stand up against FNPF & the Illegal regime & their policies....

    Its your hard earned retirement money..sa rawa dra yarr.

    Lets get ready for a mass protest but peaceful infront of FNPF.

    God bless Fiji.

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  31. Good for reddy ! Raica mada if u had the chance to be successful using the system wouldn't u ? It's the government's fault ! At least it's a Fijian born and raised in Fiji that has done well for himself .
    Mr Reddy has used the system in place to his advantage just like u and I can also given the chance as a Fijian.

    Please people sometimes look at the glass of water as half full and not half empty

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  32. A group of Fijian pro-democracy activists are asking hackers worldwide for help to obtain data and documents that would expose corruption within the country's military government.

    The activists maintain a blog called "Coup Four and a Half" where they publish all the incriminating information they obtain. The blog's name is a reference to the four coups d'état that Fiji has experienced throughout its history.


    The last one occurred in 2006 when Commodore Josaia Voreqe Bainimarama, the commander of the Fiji Military Forces, seized power from the country's then-Prime Minister Laisenia Qarase. Ironically, Qarase came to power in 2000 as a result of a coup d'état himself.

    Bainimarama was installed as Prime Minister with the approval of the Fijian president who later suspended the Constitution and dismissed the country's Court of Appeal for ruling the interim government illegal.

    Fiji has been under military rule since 2006 with military officers installed at all levels of government. The country was expelled from the Pacific Islands Forum and suspended from the Commonwealth of Nations for failing to hold elections.

    The "Coup Four and a Half" pro-democracy fighters contacted HackerLeaks, a new WikiLeaks-style website for hackers, to ask for help.

    "Hello brothers. We are intel officers fighting to free Fiji from a dictactor and its military rule by bringing peace and a democratic government.

    "The people are being beaten everyday while our government fills it pockets with huge monies from public funds. Reference of what is happening in our small country Fiji can be found at our blog sites: www.coupfourandahalf.com.

    "We in Fiji don't have resources to fight the government and retrieve information from their servers to let the world 'know the truth' about our governments shady dealings. That is why we need you. Please help us crack and steal government file and sites," the activists wrote, according to HackerLeaks.

    The request falls in line with Anonymous' Operation Anti-Security which targets corrupt governments and organizations around the world. It remains to be seen if any hackers will answer the call.

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  33. The Reddy Construction company from which all this began is well known for helping people in strife in Fiji. The various issues raised in this article is nothing new-various Companies around the world do the same thing when making claims it is for the authorities to check if the claims are legit! The rules are there to be followed -some will go to the extreme to gain an advantage in its application of the rules via use of accountants and lawyers' If all this is true as the article claims it means that the YP Readdy Group has been ripping off the Tax dept in Fiji for such a long period of time, and no one is any wiser even with all the succesive Governments we have had? I thought Qarase was supposed to be a Business wiz? So are you saying all the previous Govts in Fiji were complicit in what Mr Reddy was & is still doing? Are you wanting me to beleive this? Why has no other Govt in Fiji, if the issues you have raised here is true, taken this to the courts! To try and make out the YP Reddy group is ripping off the Fijians thru the land bank an also for some to now post & conclude that YP Reddy Groups are behind the coups in Fiji is really pushing it to the limits. There are many Companies in Fiji small, medium sized & large in the hotel business-has anyone asked if they also push the laws of governance to the limits to not gain an advantage! Has anyone asked how much money is paid to the land owners of Denarau by the hotel groups sitting there.The wages paid to the hotel workers is shit! But why hasn't anyone asked the Companies who own the hotels about a wage rise especially when they were making millions! Where were the subsequent Govts, & the Unions? Remember when the Indo-Fijians would want to strike over wage claims in the past- what would the Fjians at the Hotel do-break up the strike or threaten the indo-fijian workers. If Mr Reddy has acquired hotels all over the country its thru sheer hard work and years of blood , sweat & tears!
    It is the nature of Business people to run with whatever form of Govt that is in power, theirs is to run a business-its the nature of the beast. Its a different situation when business people are in collusion with Govts such as Nazi Germany! Lets not get confused about the two! Lets not crucify people before we all know the full story-damage once done can't be easilier undone!

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  34. Fiji has always been raped by the chiefs, then the punks with Guns and whatever is left goes to the dogs like this man.

    To this mans credit, he has merits in what he does (wrong or right), he takes action and achieves his goals. Why don't everyone on this site have goals..

    All I am reading is hate, Jealousies, Taliban etc..All anti-chritians stuff..

    Since we have lost our values ..these are the consequences..

    My question is why are we moving away from Christianity and our core beliefs based on christinity?

    If this will be fixed then everything else will.Lets clean our own houses before we call others Tailban and what else.

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  35. these people knew baini was a super idiot and used him for their own personal gain ... could be the qarase government didn't to have anything to do with this kind of corruption so they turn to super idiot to do the dirty work for them.

    SOME CLEAN UP CAMPAIGN ...

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  36. Cultural Differences.

    When Indians have money they go to a bank - when Taukei have money they go to supermarket.

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  37. Vinaka C4.5.....more revelations on all people backing and benefiting from this coup. Keep up the good work.

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  38. The workers should claim back all that they've lost from these conniving opportunist's like Reddy and Tapposs, etc.....

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  39. Wow.. this one's a scoop!!!
    Thanks C4.5!

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  40. Money, the source of all evils. This government has broken all records in corruption and human rights abuse. Fiji's poor and under privileged are the worst hit.

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  41. Awesome reporting C4.5...this is volatile information!! at the end of the day average people at ground level are affected....

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  42. They are using the workers money to gain rich.

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  43. Thank you 4.5 for this excellent piece of information. It appears to be coming from a reliable source. It's so sad to hear that the ordinary honest Fijians and Indo-Fijians and other races who live and pay taxes in Fiji will be kept in the dark of all these white collar crimes. It's all part of the corrupt practices that happen everywhere in the world. Fiji is no exception. Infact these corrupt practices have been in Fiji before and the 87 coup adds more flame to these greedy habits. Collusion,insider trading,deceptive conduct, con artists, tax avoidance, tax evasion, abuse of power,self interests, corrupt board members, etc, are all dishonest methods people use to get rich. It's compounded by a weak government with no honest and real commitment to God and the people The result is self destructive. The Fijian word for all these bad habits is KOCOKOCO! Isa ko Viti sa na vakaevei.

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  44. The fact is those who have progressed generally have used/abused the system. YP is no exception. Dilema is how to get rid of these parasites; if you squeeze them too hard they go somewhere else or make life difficult for the ordinary folks. Option left is to grease them and in return they grease you; a beneficial arrangement for both the parties.
    Fiji is not unique; it happens everywhere including India, China, USA, NZ, western, eastern, northern, southern, christain, muslim, hindu, natives, foreigners; but what is common is they all are rich or end up rich; example Rabuka & now BM & Ayearse.
    MP of Motibhais got shafted not for graft & avoiding taxes but for not greasing the top boys enough; thought he was above them. In this game you gotta keep the greedies greased all the time or end up in jail or runaway baby like junior sk now hiding in auckland and all his cronies in FFA claiming they don't know where he is.
    One can go on & on but what the hell its useless even the commies are becoming billionaires.

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  45. It is Rokoului was a best friend to Reddy. Started from his father, and his father was the one who initiated all these. So why the fuss now! because soon it will be ok........
    This current government in Fiji will make everything right before the 2014 election, and will be ok from then on. those in oversease, better go back to Fiji now and experience what your families are experience now. Better than the country you in now, especially if u in NZ or Aussie......

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  46. Why are we worried around YP Reddys achivement.he is a honest man, done lot for people of Fiji.Only time will tell how truth this storey is.

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  47. Next up Rups big bear!!!

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  48. "Vengeance is Mine", says the Lord. "I will repay".

    YP Reddy, your smile says it all. You can smile all the way to the bank, but remember the Words above. You have been warned!

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  49. FNPF pays out $135m
    Elenoa Baselala
    Friday, July 01, 2011
    EXPECT your Fiji National Provident Fund balances to be more today following a 5.25 per cent interest pay out to all members totalling some $135million.

    The interest payout is for the 2011 financial year ending June 30.

    While today is the new financial year for the fund, some may breathe a sigh of relief that it is not going to be the FNPF Decree Day with the confirmation coming from the chief executive officer of the fund himself, Aisake Taito.

    The interest credited to members' accounts at 12 midnight comes from the general reserve of the FNPF.

    It is money earned by the fund from its investments. The return on investment for the 2011 financial year was between 6 to 7 per cent.

    "This is an indication of our commitment to providing value for our members. Despite the economic challenges faced in the year, we are pleased to be able to announce a relatively higher positive return," Mr Taito said when announcing the payout.

    "Last year, the fund paid out an interest of five (5) per cent totalling $121 million in payout to its members.

    "In addition, the board has approved that the Special Death Benefit (SDB) cover be retained at $8500, with the premium fixed at $35.

    "The premium will be deducted from members' accounts on Friday, July 1, 2011.

    "The SDB is a benefit that is added on to members' balances and paid out to nominated beneficiaries upon a member's death before he or she reaches 55 years or retirement."



    Email to a friend

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  50. YP Reddy got some great fraudulent advisors...you leeches!!parasites...users & abusers....takes 1 to another...

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  51. Yes, as expected it is in economic-politico sector where government policies were manipulated for personal gain, that even more scandals hide. This is where the Fiji's proletariat will discover how they have been hoodwinked all this time. It is the slimey rocks under which the true originators of all the coups lurk. Where the narratives of the Rabukas, Speights and Baineees become a sweeping panoramic visage. The landowners were ended up with crumbs. Well done coup 4.5, top marks to you. And to the great tool of freedom- the Internet.

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  52. YP Reddy's day seems to be numbered in Fiji! very sad to see this. sorry bro.

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  53. Tata how much you paid to surpress the criminal file CID/HQ/PEP/128/10? Tell the amount so Mahendra patel can pay and get out of jail?

    hurrayy......

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  54. Y P REDDY U R Chor,Chor.Chor,Chor.
    Daku,Daku,Daku,Daku.
    Baiman,Baiman,Baiman
    the nation is anxiously waiting for official response from NFP and TIV Sangam.

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  55. Every Business House in the world work the system. Fiji is no difference. Now let us ask one question,How many people does YP employ? Not only that, YP has given a lot to Fiji in terms of social, religious,and sports Organizations. The only sin that I see, likes of YP have committed is that they became successful business man. Unlike FNPF, Air Pacific, TFL and other government owned entities. These individuals run tight ship and make money. If that is a crime or sin, I will commit that all day long.

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  56. YP Reddy start distrubing all your crooked money to the needy that way you might get some forgiveness.

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  57. BY THE WAY,,,,WHERE IS RUM,,,,,NOTHING NEW FROM HIM TO DATE,,,,FRANK IS CARRYING ON AS USUAL.
    RAJESH - STOP FABRICATING TEXTS TO CREATE SYMPATHY FOR YOU MATE,,,,
    FeLIX THE CAT - ANOTHER TURNCOAT SEEKING A REFUGEE VISA. The buturaki serves u right ,,,at least it cured your arrogance.
    what the dem supporters overseas shud do is send money and support to the anti frank elements in fiji rather than trying to elevate themselves with their self pontifications etc.

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  58. YP Reddy is a humble, good & simple harding working man. That is a fact.

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  59. $900m stated by RBF as tourism earnings...the write claims it is only around $480m based on HTT. Well whoever wrote this forgot that tourists do not spend money on accommodation alone. That $900m is the total tourism earnings...ie what tourists spend here every year.

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  60. If FIRCA was serving its intial purpose of providing for government's operational costs such as salaries for civil servants fortnightly etc..than PENSIONERS FUNDS WOULD NOT HAVE BEEN UTILIZED FROM FNPF,LIKE THE CURRENT SITUATION. THESE INNOCENT PARTIES , THE PENSIONERS HAVE BECOME VICTIMS OF SOME UNFAIR DECISIONS MADE BY SHALLOW , INCOMPENTENT DECISION MAKERS. WHO THOUGHT THIS WOULD NOT HAVE BEEN DETECTED??? MAY GOD PUNISH YOU FOR THIS ...GOD IS WATCHING !!! POOR INNOCENT PENSIONERS WHO HAVE AND WILL SUFFER FOR NO REASON..

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  61. @ Annon 4.55pm

    Well HTT and Accomodation equates80-90% of the total tourism revenue and contributes only 1% to the total Govt Revenue Base (FIRCA Annual Report). Most are ususally on packaged tours of Accommodation with Meals (Breakfast)The rest comes in the form of Shopping etc and the majority goes back overseas in the form of 100% Tax Rebate (Jacks, Tappos) at the Airport counter by tourists. Only 1% of tourist are into tour guiding and eco tour. By the way, I must remind you that we have come out of the Caves long ago. Stop your lying estimated tourism revenue figures. Stop lying to my beloved Fiji!! You have been riping us off all this time. Stop manipulating our financial and political situation.Enough is enough!! Do you want me to reveal more??

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  62. @ Anonymous 8.47pm.

    Are you sure you have come outta your cave coz u still seem delusional. Tourism earnings consists of what tourists spend accommodation, local transportation, sight seeing, shopping etc. Of these HTT is charged on accommodation only. The rest are charged VAT so government does get enough revenue from the tourism industry. Btw are u saying that Fiji earns less in foreign exchange from tourism? If you do then you are seriously living in a cave. 632000 visitors last year...if everyone spends at least $1000 then thats $632,000 already....the $900,000 can very much be a true reflection of the industry's performance.

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  63. Come on Annonmous 10.30pm,
    the majority of VAT from Tourism is Refunded back to the hoteliers. HTT Accommodation is 80-90% of the Total Tourism Revenue and gives Government a lousy 1% Revenue.Your estimation revenue figure of $900 million is really laughable and as usual, you will always try and increase your tourism numbers in order to blow the estimated revenue in order to influence the Fiscal Policies that benefits only a hand count of people.

    If you are estimating that for 632,000 arrivals means $1,000 x 632,000 = $632,000,000, then why was only $24 million given as 5 %HTT in 2010? It is supposed to be $31 million HTT instead of $24 million.

    Try harder to conceal the Truth!! In the process, you will only expose your Monkey Game.

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