Mollyn Nakabea 
[Photo: SUPPLIED]
With Micro, Small, and Medium Enterprises accounting for 70 to 80 percent of Fiji’s businesses, helping them manage their finances and meet tax obligations remains crucial.
Fiji Revenue and Customs Service Taxation Director Momina Begg says supporting MSMEs through tax compliance initiatives helps small businesses fulfill their civic duty while expanding their operations.
“Being compliant requires a bit of financial cost, where you have to have your P&L and profit and loss statement done. We understood that these businesses are small and we cannot add additional cost”
Begg says the training goes beyond compliance by equipping entrepreneurs with essential financial management skills.
“We went and started courses like bookkeeping, so they know how much money they are making, how much expense they are doing, how to do their savings, so that one day they can grow their business. We also assisted them to make financial statements, profit and loss and balance sheet, so that they can be able to lodge their returns.”
For MSME owner Natasha Sivo, learning to manage her own financial records has already paid off.
“Not only did I learn how to keep my own financial records, but by paying my taxes and maintaining consistent records, I was able to qualify for a loan and buy a car to support my business, which relieved me from expensive transportation costs”
Begg urges struggling MSME owners to reach out for assistance to FRCS, reiterating that tax compliance is a vital civic responsibility.
