FRCA warns businesses involved in Tax Fraud
September 24, 2015 1:32 am
The Fiji Revenue and Customs Authority has today sent out a stern warning to businesses involved in fraudulent tax claims.
General Manager Taxation Visvanath Das says in one instance more than 5 million dollars owed in taxes has been detected in a random inspection carried out by FRCA officials.
“Double claiming of invoices, we also have issues with zero rating of sales orders, you know there’s a whole range of products that ware zero rated, particularly the essential food items, so here now, we have got information on hand, now as we have carried out a project actually of, on supermarkets and at this stage, we will say that there’s huge discrepancies.”
CEO Jitoko Tikolevu says the authority will not be lenient with any taxpayer found breaching the tax laws especially given the steps taken to facilitate trade and business.
Effectively immediately, any business found continuing to falsify its tax documents can expect to feel the brunt of the law with severe penalties and possible imprisonment.