VAT collection increasing: Das
October 30, 2017 6:27 pm
Collections from Value-Added Tax remains the highest revenue generator for the Fiji Revenue and Customs Service.
This was revealed by the Fiji Revenue and Customs Service, Visvanath Das who says VAT amounts to thirty-two percent of revenue.
Followed by Income tax which accounts for twenty-six percent then Customs Revenue at twenty-four percent.
“Despite the VAT reduction. What we are seeing is actually the revenue growth in VAT. As of last month’s collection our revenue is up by six point six percent so effectively with lower rates and broad based, the VAT collection are increasing.”
Das says however, there are some businesses who are not complying with VAT and they will ensure they come down hard on them.