Construction Industry a concern for FRCS
October 29, 2017 6:18 pm
The Fiji Revenue and Customs Services Chief Executive revealed that some construction industries in the country are not remitting their sub-contractors provisional tax.
Chief Executive Visvanath Das says this is a huge issue for the FRCS.
“Construction industries are an issue for us because you know tone of the things that happens in the construction industry is you know they engage sub-contractors. So what’s happening is you know the law in Fiji requires 5% provisional tax, contractors’ provisional tax to be deducted from the payments and that need to be remitted to FRCS and it goes as a credit to the contractor tax payments. That is actual tax for the sub-contractors and we are seeing this is not happening.”
Das says that going against the law is not worth it.
“But I am just amazed at the fact that how can people be so ignorant and not appreciate that there strong networks in place. All these information gets channeled into the tax office. So it’s really not worth taking the risk of not declaring it.”
Das adds that no one can escape paying taxes as everyone’s on the radar.