Supermarkets are high risk: FRCA
September 25, 2015 12:54 am
Supermarkets have been put under the spotlight by the Fiji Revenue and Customs Authority.
FRCA General Manager Taxation Visvanath Das says a recent audit has uncovered forged VAT returns, understating VAT sales and overstating zero-rated supplies to name a few of the huge discrepancies found.
While he would not say how many supermarkets are involved, the tax evasion he says is widespread.
“That’ll apply to supermarkets all across and at this stage you know, probably we will not reveal the numbers, but the whole industry, the whole supermarket industry and it is common knowledge you know who are the big players in the industry.”
From initial findings, tax agents and accountants, Das says are also aiding and abetting its clients to evade paying taxes.
FBC News has sought comments from the Fiji Grocers Association.