VAT monitoring system progressing well
May 14, 2018 7:12 pm
The Electronic Fiscal Device for the VAT monitoring system will arrive into the country by the end of this month.
This has been confirmed by Fiji Revenue and Customs Service Chief Executive Visvanath Das who says the VAT monitoring system which has been trialed in a few supermarkets have been progressing well.
“The work on the second phase of things have started and by the end of this month we should be getting in those fiscal devices where we had offered two options either the fiscal devices or the software option so the software option is already in the market it’s only the devices which are getting supplied by the supplier.”
Das says a few supermarkets are already trialing the systems with positive feedbacks.
Electronic Fiscal Device is an electronic fiscal device system that has a Point of Sale system and Sales Data Controller which is connected and produces fiscal invoices.
The fiscal data is then transmitted to the Fiji Revenue & Customs Service system.
Meanwhile, the introduction of the VAT monitoring systems is for businesses to improve their management, ease administrative procedures and crack down tax evasion that will eventually lead to fair competition in all sectors.