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Real Estate Industry under the spotlight

November 4, 2017 4:49 am

The Fiji Revenue and Customs Service is keeping the Real Estate Industry on a close lookout.

Chief Executive, Visvanath Das says a number of discrepancies were registered with the Revenue and Customs.

“The movement in the industry has been very high over the last ten years but the revenues are simply not matching.”

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Das says the industry accounts for three percent of the revenue, amounting to fifty three million dollars.

He adds a number of cases relating to money laundering through the real estate industry was detected by the team.

Therefore, a special team is monitoring the industry.

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