Prasad calls for enhanced audit skills to combat tax evasion

June 17, 2024 4:12 pm

Finance Minister Professor Biman Prasad stresses the need for capacity building to conduct complex audits to address tax evasion.

Prasad made the comment while opening the Regional Workshop on Navigating Complex Tax Technical Issues in Suva this morning.

The Finance Minister says focusing on complex tax cases is imperative for several compelling reasons.

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He says that, to begin with, directing audits towards large entities offer greater potential for tax recovery, thereby maximizing revenue generation.

Prasad says conducting successful audits of large tax payers serves as a powerful deterrent against tax evasion, reinforcing compliance, and upholding the integrity of our tax system.

“Conducting complex audits to address these issues requires substantial capacity building, and I think this workshop is part of that contribution that you will be making, including specialized skills, ongoing staff development, and international cooperation.”

Prasad says capacity building not only enhances audit capabilities but also strengthens our ability to adapt to the evolving tax landscape and actively address emerging challenges.

He highlighted that the government, along with the Fiji Revenue and Customs Service, are committed to establishing a tax system that is fair and ensures equitable distribution across society.

Prasad says he hopes that such workshops will allow the sharing of knowledge and experiences and map a way in which Pacific Island countries can work together to strengthen a very important aspect of managing the economy, which is ensuring that enough revenues are collected to be able to provide an economic policy agenda that, in the long term, is sustainable and one that fosters growth for an inclusive society.