DILI, 09 january 2023 (TATOLI)— The government through the Ministry of Tourism, Commerce, and Industry (MTCI) warned importers to stop speculating the domestic selling prices, particularly speculation on old stocks that have been imported since 2022.
After the polemic about increasing domestic prices, the Deputy Minister of Trade and Industry, Domingos Lopes Antunes instantly held a meeting with the Authority for Inspection of Economic Sanitation and Food Activities (AIFAESA), the National Directorate Commercial Regulations and Consumer Protection at MTCI.
According to a statement from MTCI seen by TATOLI stated that the meeting also invited all importers such as Lisun, Perisos, Kreative Furak, Star King, Fortuna Lorosae, and others to work with the Government to follow the applicable laws.
Mr. Antunes said importers should not practice speculation on the selling price of goods from old stock by using new import regulations and prohibiting hoarding practices under law number 4/2011.
“For this reason, we requested the importers to cooperate, do not use the regulation for increasing import taxes and excise taxes for selective products to speculate on high and unfair selling prices of basic need materials, ” Domingos Antunes explained.
He stressed that any importers who decided to increase prices are not based on Timor-Leste’s laws, it will take any consequences to pay a fine and also go to prison.
On the same day, Deputy Antunes and the Inspector General of AIFAESA gave instructions to a special team from the Government to take action and control the field and suspended the importer company that did not contribute to showing the price invoice of old stock.
According to Government Authority, the new tax system will be implemented starting January 4, 2023, and currently, there are no new imports at the ports and borders around Timor-Leste.
Antunes also asked AIFAESA as a regulatory authority to work hard to control the economic operators in taking proof of price invoices of all products to prove the price speculation.
Journalist: José Belarmino De Sá
Editor: Nelia B.
