Taskforce to look into unexplained wealth

June 18, 2024 12:45 pm

The Fiji Revenue and Customs Service will soon set-up a taskforce to investigate individuals with “unexplained wealth”.

Finance Minister Professor Biman Prasad says the taskforce will also look into possible tax evasion by those suspected of unexplained wealth.

FRCS Chief Executive Udit Singh says a list has been drawn up for further investigation.

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“The terms of reference have been completed. It will be going to the Board to determine who the individuals are and possibly by the end of the month, after the budget we should be able to give you more information.”

A person has “unexplained wealth” if the value of the person’s total wealth is greater than the value of the person’s lawfully acquired wealth.