Tax administration has been tightened: Abraham
November 19, 2018 12:08 am
More people are now complying with tax regulations when compared to past year.
This was revealed by Fijian Competition and Consumer Commission chief executive Joel Abraham.
Abraham believes the tax administration has been tightened which has led to an increase in the level of compliance.
“What happens is because the VAT is applied on all item enforcement becomes easy now you don’t have to have two sets of data so what it does it tightens the administration system and because the administration system is stronger the level of compliance goes high.”
Abraham says if VAT is reduced on only some items the enforcement becomes difficult.
“Going out and sieving through this vast amount of data would practically make it close to impossible to catch all of them and then the businesses know this and because they know this it creates a room to indulge in non-compliance.”
Meanwhile, the Fijian Holding Limited group chief executive Nouzab Fareed says Fiji needs to become self-sufficient.