Shania Shayal Prasad 
[file photo]
The Fiji Revenue and Customs Service is cracking down on unregistered businesses and those under-declaring income as part of its compliance drive.
Acting Prime Minister and Finance Minister Professor Biman Prasad states the government is taking a two-pronged approach.
Education is being used to help small and informal operators meet their obligations, while tougher enforcement is targeting those who deliberately evade taxes.
He said recent budget measures would tighten oversight, including lowering the VAT Monitoring System threshold and requiring businesses to declare their assets.
“So all that is designed to close those loopholes, close those gaps, so that we can bring people into the tax net, but also make sure that people are not earning income and wealth through illicit means, including drug trade.”
Prof Prasad stresses the measures are vital to curb revenue leakage and strengthen transparency in the business sector.
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