Praneeta Prakash 
File Photo
The Fiji Revenue and Customs Service clarifies all cash holdings, whether in e-wallets, bank accounts, or other financial instruments, are subject to asset declaration requirements if they exceed the FRCS thresholds.
During a recent Standing Committee session, a Member of Parliament posed a question specifically regarding M-PAISA.
In response, FRCS advised that assets held under M-PAISA must be declared in accordance with the asset declaration rules.
However, FRCS says this response applies not only to M-PAISA, but to all forms of e-wallets and digital cash holdings, including but not limited to MyCash, Sole Vision Fintech, DuaPay and any other mobile wallet or digital cash platform
FRCS stresses that the mention of M-PAISA in the committee session was in response to a specific question and was not intended to single out any particular provider.
