2018 TOPEX: VAT returns increase

Vasu Vincent Nair speaking at the TOPEX Conference at Sofitel Fiji Resort & Spa Denarau in Nadi yesterday. Picture: BALJEET SINGH

SUBMISSION of VAT return forms from the public has increased to 90 per cent, says Fiji Revenue and Customs Services corporate services director Fazrul Rahman.

He said this was an increase from 53 per cent recorded three years ago.

“One of the reasons for the increase is that there is a lot more awareness now and people are more aware of our tax returns and VAT policies,” he said while presenting at the 2018 Top Executive Conference in Nadi yesterday.

“While we are recording some improvements in our taxation, we are also seeing there are still some issues that exist which we need to address. “For example, some tax agents are fictitiously putting together tax invoices.

The tax agent is there to look through your accounts and ensure that your taxes are being paid and to ensure your books are in order.

“But some are not doing and in fact we are in the process of prosecuting a tax agent.”

He said the new Income Tax Act has been significantly enhanced to instill confidence within the tax payer. “We have given people to object to certain payments that FRCS orders them to pay.

“And we have also opened up the period of the tax payment so people can go back to a period in time where they thought they should not have been taxed. “Of course throughout the whole process, the burden proof will be on FRCS.”