FRCA reviews laws to soon name companies defaulting on taxes
July 28, 2017 8:09 pm
The Fiji Revenue and Customs Authority will in the near future be able to publically identify businesses that are found defaulting on their tax payments.
Chief executive Visvanath Das says they’re currently reviewing the law that has previously restricted this.
“Current legislation is restrictive in that regard, however we are actually currently pursuing to explore into bringing a legislation in terms of shame and sign so really than we can start naming businesses that’s defrauding that State, and not only the State actually defrauding Fijians, people of tax revenue.”
Earlier this week, a business in the Western Division was found defaulting on their tax payments to the tune of eight million dollars.
While FRCA were able to publically reveal that information, they were prevented from naming the business at fault.
Through the Whistle Blower policy, the informant in this case was paid two hundred and fifty thousand dollars, the highest amount paid out to date since the policy came into effect in 2012.