FRCA audit uncovers forged VAT returns
September 22, 2015 6:58 pm
The Fiji Revenue and Customs Authority will come down hard on taxpayers who breach the taxation laws and regulations.
FRCA has confirmed that some taxpayers are disclosing incorrect information in their VAT returns.
FRCA CEO Jitoko Tikolevu says they’re also investigating some major supermarkets that are using additional cash registers for tempering its sales data.
Sales from these additional cash registers are not in the company’s books of records.
The money in these cash registers goes directly into the pockets of the owners.
Tikolevu adds some accountants and tax agents are also under the spotlight for aiding and abetting its clients to evade paying taxes.
FRCA is currently carrying out inspections and routine audits on all VAT registered persons.
Tikolevu says FRCA will treat any falsified VAT return with all seriousness and offenders will have to face the full brunt of the law including imprisonment.
It has also been revealed that some employers are claiming 100% of the employers FNPF deduction instead of the 50% allowable deduction.
Under the Tax Administration decree, it is a serious offense to provide false information to FRCA. Penalties and prosecution will be imposed on non-compliant taxpayers.